Detroit Housing For the Future Fund Highlighted as JPMorganChase Crosses $2B in Detroit Investments
JPMorganChase surpasses $2 billion in Detroit investments, unveils new downtown office to help power city’s next chapter
Read the Full Press Release here: JPMorganChase JPMorganChase surpasses $2 billion in Detroit investments, unveils new downtown office to help power city’s next chapter
JPMorganChase today celebrated a major milestone in its more than 90 years doing business in Detroit, announcing that its business and philanthropic investments in the city have surpassed $2 billion since 2014. Marking a new chapter in its commitment to Detroit, the firm also unveiled plans for a state-of-the-art downtown office and conference center at Hudson’s Detroit, designed to foster collaboration, innovation and community engagement. These investments underscore JPMorganChase’s continued support for the city’s resurgence.
“Today, JPMorganChase celebrates more than a decade of impact in Detroit, surpassing $2 billion in investments that will help fuel the city’s future,” said JPMorganChase Chairman and CEO Jamie Dimon. “From revitalized neighborhoods to thriving small businesses, Detroit’s transformation is a story of resilience. It is also a story of what’s possible when the business, government and community come together to test new ideas that create growth. Detroit has become a model for how JPMorganChase invests in communities around the world. We are proud to have played a role in the city’s revitalization, and we look forward to continuing our commitment with our new downtown office.”
JPMorgan Chase’s $15 million anchor investment helped launch the Detroit Housing for the Future Fund (DHFF), a private investment fund designed to expand access to affordable housing across Detroit. Managed by LISC Fund Management, LLC in partnership with LISC Detroit, DHFF is a key component of the City of Detroit’s Affordable Housing Leverage Fund, developed alongside the Michigan State Housing Development Authority. The fund is further strengthened by a $10 million guarantee from The Kresge Foundation, enabling deeper and more flexible impact across the city’s housing landscape.
Read the Full Press Release here: JPMorganChase JPMorganChase surpasses $2 billion in Detroit investments, unveils new downtown office to help power city’s next chapter
About the Detroit Housing for the Future Fund
Detroit Housing for the Future Fund (DHFF) is a mission-driven private investment fund with the primary goal of addressing the severe shortage of affordable housing in Detroit. DHFF is managed by LISC Fund Management, LLC, a subsidiary of Local Initiatives Support Corporation. LISC Detroit sources and originates loans for DHFF. DHFF is a part of the larger Affordable Housing Leverage Fund, which is an initiative with the City of Detroit’s Housing & Revitalization Department and the Michigan State Housing and Development Authority. DHFF deploys flexible loan capital and private grants to complement and leverage public investment through the City of Detroit and Michigan State Housing Development Authority as well as tax credits and other existing affordable housing finance tools.
For more information on the Detroit Housing for the Future Fund and funding opportunities, please visit https://www.detroithousingforthefuturefund.org/ or https://www.liscfundmanagement.org/detroit-housing-for-the-future-fund
For investor inquiries and more information about LISC Fund Management, LLC, please visit https://www.liscstrategicinvestments.org/fund-management
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