JPMorgan Chase has announced The Real Estate Council (TREC) Community Fund as a recipient of a $400,000 grant from the financial institution’s PRO Neighborhoods planning program, TREC announced on its website. In partnership with the Forest District, Golden S.E.E.D.S. Foundation and Builders of Hope Community Development Corporation, TREC will use the grant to create a road map for igniting equitable development that leverages the city’s newly adopted Comprehensive Housing Policy. This pilot program will be developed by working with partners in three Dallas-area neighborhoods that were identified as the most vulnerable to rapid transition: the Forest District in Southern Dallas/Fair Park, “The Bottom” neighborhood in East Oak Cliff, and West Dallas.
“For decades, many Dallas neighborhoods have seen development happen to them, not with them,” said Maggie Parker, director of TREC’s Community Fund. “The three neighborhoods we have partnered with for this grant are working to reverse this trend. They recognize that developing healthy neighborhoods requires deliberate, collaborative community planning that will benefit existing residents and attract newcomers from diverse racial and socioeconomic backgrounds. Our collective approach will address the acute needs to develop affordable housing as a core outcome and then build upon other needs identified by these communities.”
Over a 12-month time frame, TREC and its partners will work alongside community organizations to create a plan for community development. The effort will begin with intensive data collection that will include housing and demographic trends, public and private investment activity, affordability, community assets, public policy resources and identification of development opportunities. This data will be collected through use of community surveys, property mapping technology, neighborhood-based trend data analysis, asset-mapping and detailed research on local real estate and public investment trends.
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ABOUT THE REAL ESTATE COUNCIL
The Real Estate Council represents more than 2,000 professionals and 600 companies that spark community transformation, influence policy, and propel careers through networking, educational programs, and leadership development. TREC’s mission is to cultivate relationships in the commercial real estate industry to catalyze community investment, influence policy, propel careers and develop the leaders of tomorrow.
ABOUT TREC COMMUNITY FUND
TREC Community Fund, a 501 c3 organization, provides nonprofits and for-profit organizations in Dallas and Collin Counties with access to capital for commercial and real estate projects. Through flexible loans paired with technical assistance, businesses and organizations have access to the tools needed to build the community they envision. TREC Community Fund is certified by the United States Department of the Treasury as a Community Development Financial Institution (CDFI). For more information, visit www.TRECCommunityFund.com or call 214-692-3600.
ABOUT JPMORGAN CHASE PRO NEIGHBORHOOD PROGRAM
JPMorgan Chase & Co. is a leading global financial services firm with assets of $2.6 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, asset management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional, and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com. Follow JPMorgan Chase on Twitter @JPMorgan or @Chase and Facebook.