Finding Proactive Solutions
As the economy recovers, much of the growth is often channeled toward reviving commercial corridors and downtowns in U.S. cities. As a result, many disadvantaged neighborhoods are being left behind. To help address this challenge, in 2016 JPMorgan Chase launched Partnerships for Raising Opportunity in Neighborhoods (PRO Neighborhoods), a $125 million, five-year philanthropic initiative to support and catalyze locally driven solutions for revitalizing distressed neighborhoods across the United States.
PRO Neighborhoods is focusing on:
CREATING PROSPEROUS NEIGHBORHOODS
As part of PRO Neighborhoods, our firm committed $20 million in 2016 to support community development organizations in Detroit as well as four additional cities: Atlanta, Chicago, Miami and New York.
Through our firm’s work on the ground, we’ve seen the same paradox again and again: The community development organizations working in distressed neighborhoods where the needs are greatest are often the organizations that have the least resources. That’s why we are working intentionally to invest in the right partners in the right places for the most impact. For example, the North-Miami-Dade CDFI Collaborative brings two long-term neighborhood CDFIs together — Opa-Locka Community Development Corp. and Tools for Change — combining their expertise in consulting services and housing, to better scale these services. In Chicago, the Neighborhood Retail-Chicago Collaborative provides technical assistance services and loans for commercial developments and also works to reduce blight.
MOTOR CITY MAPPING EXPANDS
The success of Motor City Mapping’s data-mapping tool in Detroit has caught the attention of other cities looking to more effectively deal with blight and distressed properties. Supported by a two-year, $1 million grant from JPMorgan Chase, the Western Reserve Land Conservancy is bringing the data-mapping tool developed by Loveland Technologies to Ohio’s three largest cities — Cleveland, Cincinnati and Columbus.
While these cities face different challenges than those of Detroit, using data for making critical decisions on community development is relevant for civic leaders, investors and neighborhood organizations in any city. The expansion of the program is just one example of how lessons learned from Detroit’s successes are being applied — and adapted — to fit the unique needs of cities around the country.