Truist announces $17M investment for affordable housing

Will help renovate older apartment complexes.
Will help renovate older apartment complexes.
Published: Aug. 11, 2023 at 4:16 PM EDT|Updated: Aug. 11, 2023 at 4:22 PM EDT
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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.

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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