JPMorgan Chase donates $450k for Fairfield housing

JPMorgan Chase has donated $450,000 to make possible the establishment of Fairfield County”™s Center for Housing Opportunity. FCCHO is a collective response and strategic partnership involving: Fairfield County”™s Community Foundation; Partnership for Strong Communities; Regional Plan Association; and Supportive Housing Works.

Among other things, FCCHO will seek to promote the production and preservation of affordable housing in Fairfield County while positioning housing opportunity as important for the economy.

FCCHO”™s first initiative, the Fairfield County Housing Alliance, involves 65 organizations.

“Thriving neighborhoods are critical for any region”™s long-term success. Yet many neighborhoods are struggling from disinvestment, high poverty and unemployment, lack of affordable housing, persistent crime, and other challenges,” said Matt McSpedon, the JPMorgan Chase Connecticut market leader. “As a result, many of the most vulnerable residents are shut out of the rewards of a growing economy,”

JPMorgan Chase”™s money will be used to help create data and planning tools to help community leaders better address the biggest challenges facing their communities and introduce a more diverse stock of housing.

The Fairfield County Community Wellbeing Index 2019 found that nearly 40 percent of households spend more than the recommended 30 percent of income on housing.

Fairfield County”™s Community Foundation promotes philanthropy as a means to create change in the county.