ATLANTA, March 18, 2019 /PRNewswire/ -- The SunTrust
Foundation announced today it awarded a $5
million grant to the Westside Future Fund (WFF). The grant
will positively impact Atlanta's
historic Westside neighborhoods, whose footprint once housed more
than 40,000 residents by supporting mixed-income housing and
economic development. This will ensure that legacy residents can
continue to call the historic Westside home and thrive as part of
the revitalization efforts taking place.
WFF is committed to establishing mixed-income communities that
are safe, support families, stimulate local businesses and ensure
sustainability for multiple generations. To do this, WFF's work is
framed by a holistic resident retention strategy that prioritizes
legacy residents' ability to stay in their neighborhoods for
generations while making housing affordable for people of mixed and
fixed incomes. The SunTrust Foundation's grant will assist with
this affordable housing initiative as well as provide small
business support programs to help economic growth within the
Westside community.
"This grant to the Westside Future Fund is an example of our
commitment to Atlanta and our
ongoing support of empowering the historic Westside community,"
said Bill Rogers, SunTrust chairman
and CEO and SunTrust Foundation chairman of the board. "The
combination of mixed-income housing, meaningful employment and
local business growth transforms neighborhoods in a sustainable
way, and we look forward to the long-term effect within the
Westside. We've seen the tremendous impact that this organization
has had on the community, and that's why we chose the Westside
Future Fund."
"Thank you to the SunTrust Foundation for your commitment to the
city," said Mayor Keisha Lance
Bottoms. "Investments such as these foster vibrant, healthy,
and equitable neighborhoods that will improve the quality of life
for all Atlantans through the expansion of affordable housing."
The Westside neighborhoods that WFF has identified – English
Avenue, Vine City, Ashview Heights, Atlanta University Center,
Just Us and Booker T. Washington – represent the areas of greatest
need. WFF estimates that among nearly 1,600 households within this
footprint, half of the residents earn less than $20,000 a year. Such depressed earnings make it
virtually impossible to afford quality housing. The SunTrust
Foundation's grant will further the mission of affordable housing
and local commerce within these communities. Together, WFF and the
SunTrust Foundation will make homeownership achievable for more
Westside residents and spur sustainable, increased annual incomes
and economic flow within the community.
"I am grateful for the investment from SunTrust Foundation and
the leadership of Bill Rogers," said
Richard Dugas, chairman of the
Westside Future Fund board of directors. "I know firsthand of his
deep personal commitment to the Westside and the long-standing
engagement of SunTrust with the residents of this community."
"The outstanding response from our philanthropic partners is
allowing us to build a national model that embodies the 'Atlanta
Way,'" said John Ahmann, executive
director of the Westside Future Fund. "With this charitable pledge
from the SunTrust Foundation, we are continuing along a trajectory
that will revitalize the Westside and protect its residents."
This effort is congruent with the City
of Atlanta's focus on supporting small business. With its
historic and emerging neighborhoods, Atlanta recognizes that small business and
entrepreneurship are crucial to the city's success and equitable
growth.
About Westside Future Fund
Westside Future Fund is a
nonprofit formed by Atlanta's
public, private and philanthropic partners who believe in the
future of Atlanta's Westside and
are committed to helping Historic Westside neighborhoods revitalize
and develop into a community Dr. King would be proud to call home.
WFF serves as a "community quarterback" organization for the
holistic redevelopment of English Avenue, Vine City, Ashview
Heights, Atlanta University Center, Just
Us and the Booker T. Washington neighborhoods. In collaboration
with residents, community leaders, and a wide variety of public and
private partners, WFF is driving change by focusing on four impact
areas: mixed-income communities; cradle-to-career education;
community health and wellness; and safety and security. Grounded in
a compassionate approach to revitalization aimed at community
retention, the organization is focused on creating a diverse
mixed-income community, improving quality of life, and elevating
and celebrating the Historic Westside's unique history and
culture.
About SunTrust Foundation
The SunTrust Foundation is committed to SunTrust Bank's (NYSE: STI)
purpose of Lighting the Way to Financial Well-Being by engaging
with local and national organizations to advance financial
confidence. Grants and activities focus primarily on financial
education, financial counseling, career readiness and small
business/entrepreneurship, in addition to local community grants.
The SunTrust Foundation supports American Red Cross disaster relief
efforts and contributes as a United Way Global Corporate Leader.
Established in 2008, the SunTrust Foundation has proudly provided
grants totaling more than $160
million throughout the United
States.
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SOURCE SunTrust Banks, Inc.