West Charlotte aid: Wells Fargo gives $6M for affordable housing, small businesses
Wells Fargo is giving a total of $6 million to six nonprofits to bolster housing access, job training and small businesses in west Charlotte, the banking giant announced Tuesday morning.
Leaders from Wells Fargo met with city, state and organization representatives at Johnson C. Smith University to celebrate the funding. The grant builds on the bank’s ongoing community engagement in the city that houses its largest workforce, Wells Fargo said.
The San Francisco-based bank has about 27,000 employees in the Charlotte region.
Between 2020 and last year, the bank and its foundation invested more than $48 million in initiatives in the region. Workers volunteered more than 675,000 hours in the area.
Charlotte Mayor Vi Lyles said investments like this from Wells Fargo putting millions into west Charlotte strengthen the city as a whole, she stated in a news release.
Here’s where Wells Fargo’s $6 million is going.
Affordable housing access in West Charlotte
Freedom Communities will build 12 affordable rental units for workforce program participants. This will help promote housing stability and economic mobility.
Lakeview Neighborhood Alliance will use the money for 15 accessory dwelling units. This will expand affordable rental options and enable home repairs, solar installations and energy upgrades.
West Charlotte workforce development
CodePath is expanding its industry-aligned computer science courses, career services and interview preparation into programs at UNC Charlotte and JCSU. It plans to expand to additional institutions across the region.
Local business growth in West Charlotte
Wells Fargo’s funding also will help the CLT Alliance Foundation assess small business needs and launch readiness programs with a focus on west Charlotte.
ASPIRE Community Capital’s is using the money to help 24 business owners work toward sustainable growth through its financial empowerment initiative.
And the West Boulevard Neighborhood Coalition is establishing Three Sisters Market, the first full-service grocery store in more than 30 years for the West Boulevard Corridor. This will expand access to fresh food.
