JPMorgan Chase Invests in Affordable Housing Initiative
JPMorgan Chase has renewed its commitment to a Fairfield County partnership working to improve access to affordable housing.
The investment bank and financial services company is contributing an additional $400,000 to the Fairfield County Center for Housing Opportunity.
FCCHO began in 2019 as a strategic partnership between Fairfield County’s Community Foundation, the Housing Collective, Regional Plan Association, and the Partnership for Strong Communities.
The initiative develops effective, long-term regional solutions to ensure all Fairfield County residents have access to safe, affordable, and sustainable housing opportunities.
FCCHO will use the JPMorgan Chase contribution to build on its work creating and preserving housing for people of all incomes, ages, and backgrounds in southwestern Connecticut.
JPMorgan Chase invested $450,000 in 2020 to help conceptualize FCCHO and support the collaborative’s strategic goals.
As part of the bank’s initial investment, FCCHO worked with national housing policy think tank Urban Institute to design a results framework to track the long-term progress towards affordable housing.
“JPMorgan Chase’s investment ensures that this important work will continue, and that this emerging partnership will drive meaningful change in the housing system in order to support equitable access to housing opportunities,” said FCCF president and CEO Juanita James.
JPMorgan Chase Connecticut’s Matt McSpedon said home ownership was “a critical component of economic empowerment—a goal that is out of reach for far too many hardworking families and individuals across Connecticut.”
“The Fairfield County Community Foundation is at the forefront of innovative solutions to our region’s most pressing issue and this investment will help more people access housing that is affordable, and, in turn, help build their credit, savings, assets, and financial opportunity,” he said.
CBIA president and CEO Chris DiPentima called the initiative “a terrific example of why public-private partnerships are so important.”
“Making Connecticut an even better place to live and restoring our economy to its full potential means providing affordable housing options for everyone,” he said.
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