In order for communities to thrive, they need a stable housing base. To help achieve this, we are helping customers in need of housing assistance. We do this through our outreach efforts, business activities, philanthropic giving and nonprofit partnerships, including home retention, homeownership and affordable housing options.
The Bank of America Charitable Foundation recently awarded $22 million in grants to more than 650 nonprofits addressing housing needs across 34 states. Funding will help build and rehabilitate affordable housing, offer foreclosure prevention services and homeowner counseling, and provide other services intended to revitalize neighborhoods and help working families find and keep suitable homes. In addition, we partner with nearly 600 HUD-approved nonprofit organizations to educate and counsel homebuyers, helping them understand the benefits and responsibilities of home ownership. We also focus on the revitalization of low- and moderate-income communities through our philanthropic efforts and creation and preservation of affordable housing, vibrant retail and commercial options across the U.S.
Improving access to affordable housing
In line with Bank of America’s promise to help create sustainable home ownership, 16 nonprofits in Denver recently received $750,000 in grants. Urban Land Conservancy is one of the nonprofits receiving a grant. The money will go towards the creation and preservation of transit-oriented affordable housing developments in metro Denver. Aaron Miripol, president and CEO of Urban Land Conservancy, called the project a “catalyst for significant community improvement.” More More.
Affordable Housing Group of N.C.
Elderly neighbors in the Cherry neighborhood of Charlotte, North Carolina, realized they were getting priced out of the neighborhood they lived in their entire lives. That’s when the Affordable Housing Group of N.C. partnered with Bank of America. Together we created safe, affordable housing units that are the first-ever LEED-certified housing for senior residents in the Cherry area. It also helped preserve a community and enrich a way of life for many. More More.
Oakwood Shores Senior Apartments in Chicago
Through our financing, we helped create 3,000 affordable rental and for-sale housing units and much needed services for elderly residents in the community, as well as parks, schools and retail facilities.
We are committed to sustained economic growth and neighborhood revitalization programs focused on job creation, small businesses, lending and investing to enhance infrastructures in low- and moderate-income communities. Our focus continues to be on supporting institutions that improve the quality of life in our communities through arts and culture, education and healthcare. These institutions act as economic catalysts by sparking employment, tourism and other impactful areas.
A Community Connects in the Chelsea Box District
The Neighborhood Developers and Bank of America are building affordable housing and creating a sense of community in Chelsea, Massachusetts. More More.