Small buildings are the foundation of the multifamily housing stock across New York State, and serve as a haven of naturally occurring affordability for low- and moderate-income renters. Investing in the quality and stability of the small building stock is critical to serving the needs of current and future tenants, and to promoting economic prosperity in neighborhoods large and small across the State.
Capital One provides a comprehensive and innovative approach to supporting affordable housing, a central part of creating healthy, thriving communities. We provide capital to finance a diverse range of affordable housing developments, including those built by nonprofits, local agencies and speciality developers. Since 2007, we have invested $11.6 billion in affordable housing, financed over 128,000 affordable housing units, and created more than 145,000 jobs.
Facing a shortage of housing options for homeless youth, Beacon created 39 units of housing in the Minneapolis suburb of Edina. They did this through an adaptive reuse of an existing commercial building.
In 2016, Beacon developed the 66 West project and teamed up with Edina Community Lutheran Church to offer high quality, permanent housing for 39 homeless young adults. The project site provides access to jobs, transit, and amenities.
JPMorgan Chase recognizes that thriving neighborhoods are critical to the long-term economic success of individuals, communities
At a time when economic growth is often directed toward reviving commercial corridors and downtowns, many neighborhoods, families and small business owners are being left behind. As several key barriers to economic mobility are rooted in neighborhood conditions, cities need tailored, comprehensive strategies for economic growth that ensure opportunities to prosper are extended to distressed neighborhoods and the families that live there.