Truist announces $17M investment for affordable housing

CHARLOTTE, N.C. (WBTV) - Truist Bank is tackling the affordable housing crisis head on in Charlotte.

The Truist Foundation says it will invest $17 million to create more affordable housing and also expand employment opportunities for the underserved.

We’re excited to see the impact that $17 million from Truist Community Capital and #TruistFoundation will have in Charlotte and across North Carolina. It will be invested in affordable housing and career development in underserved communities—creating upward mobility for… pic.twitter.com/9hscrBP9AB
— Truist (@TruistNews) August 10, 2023

Approximately $15 million dollars will go toward renovating older apartment complexes and transforming them into affordable housing. The other $2 million will provide job training.

Five apartment complexes have already been identified and the new money will help fund five more apartment units. Rent for the properties will be no more than $500 a month.

The goal is to have a total of 5,000 families living in those apartments.

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