On Wednesday, JPMorgan Chase announced new philanthropic and expanded business commitments as part of its firmwide approach to addressing the housing affordability gap. This includes new philanthropic commitments totaling $7.65 million to improve housing affordability and stability for underserved households and an expanded Chase Home Lending’s $5,000 Homebuyer grant. This week’s announcement marks two years into JPMorgan Chase’s $400 million five-year commitment to improve housing affordability and stability for underserved households.
As part of their commitment, JPMorgan Chase has granted CNHED $4.45 Million to lead a three-year, multi-sector initiative to advance equitable housing results for low-to-moderate-income (LMI) Black, Indigenous, and People of Color (BIPOC), families, and individuals and to strengthening the local housing ecosystem in Washington, D.C.
The Connecting Capital and Community (3C) initiative aims to increase and preserve the supply of affordable, small buildings (<50 housing units) and support residents becoming small building owners to build financial assets. CNHED partners with a set of local convening organizations on this initiative — the National Housing Trust, Medici Road, Housing Counseling Services, LISC DC, Mi Casa, and Douglas Community Land Trust.