JPMorgan Chase has announced The Real Estate Council (TREC) Community Fund as a recipient of a $6 million investment from the financial institution’s Partnerships for Raising Opportunity in Neighborhoods (PRO Neighborhoods) program. The commitment is the largest single investment ever awarded to TREC Community Fund, coming on the heels of an earlier $400,000 JPMorgan Chase PRO Neighborhoods commitment in 2018, and is one of only seven in the nation. The 2018 PRO Neighborhoods investment started a one-year equitable development planning process in the Forest District, The Bottom, and West Dallas Census Tract 205. The 2019 PRO Neighborhoods investment will be directed toward catalytic development and projects, as well as access to resources in those three neighborhoods.
JPMorgan Chase will be investing the $6 million over three years through the TREC Community Fund, which has formed a collaborative partnership between the Dallas County Community College District (DCCCD) Education & Innovation HUB, LiftFund and the Texas Mezzanine Fund, to implement the investment. Called the Dallas Collaboration for Equitable Development (DCED), the collaborative partnership will leverage shared resources to meet the capacity, programming and access to capital needs of all partnering community organizations.
Launched by JPMorgan Chase in 2016, the PRO Neighborhood competition is part of the firm’s larger $125 million, five-year commitment aimed to equip community leaders with the tools needed to transform underserved neighborhoods into neighborhoods of opportunity where diverse individuals and families at all income levels can live.