Home Philanthropy news Bank of America invests $43 million for economic mobility in DC

Posted on April 08, 2022

Bank of America has announced an investment of nearly $43 million in support of long-term economic growth and stability in the Washington, D.C., region.

Investments will address housing, workforce development, health care, and small business efforts in Southeast and Southwest Washington, and include $39 million for 76 units in MDL Flats Apartments, a mixed-use affordable housing development in the Buzzard Point neighborhood; $1 million to the Washington Area Community Investment Fund in support of the acquisition and redevelopment of the Anacostia Arts Center to promote small business development; and $1 million to Bread for the City to assist its Anacostia clinic in providing critical care, such as health screenings, nutrition consultation, and mental wellness treatments.

Additional investments include $1.25 million to Building Bridges Across the River in support of efforts to build the 11th Street Bridge across the Anacostia River, D.C.’s first elevated public park, with $1 million to help fund construction of the bridge and further environmental education efforts and $250,000 to train Ward 8 residents in construction skills necessary to build the park.

“These are the types of investments that give more D.C. residents a fair shot,” said Mayor Muriel Bowser. “Bank of America and the organizations it's partnering with know D.C., they know what our residents and neighborhoods need to thrive, and I'm confident in their ability to help us realize our shared goal of building a more equitable and connected D.C.”

Original article: https://philanthropynewsdigest.org/news/bank-of-america-invests-43-million-for-economic-mobility-in-d.c