This week, JPMorgan Chase announced that it will commit $900,000 to three nonprofits in support of sustainable infrastructure projects in Detroit. The nonprofits include The Nature Conservancy, Eastside Community Network and Jefferson East community. The firm also plans to place LED lights and new building management systems in over two-thirds of its Detroit branches.
One of the groups receiving funding is Arlington, VA-based The Nature Conservancy. This group is working with the City of Detroit on a Special Purpose District in place of its Eastern Market neighborhood. This special purpose district will aid in Detroit’s economic growth and a more effective stormwater management method. According to Crain’s, the new system would involve installing plant-filled surfaces to allow rain to flow more naturally and filet into the ground, rather than flood surrounding areas.
The funding used by the Eastside Community will focus on move-in-ready retail space for small businesses. This effort will include the rehab of unutilized space and the development of eco-friendly infrastructure. The Jefferson East community group will also use Chase’s funding towards green parking lots in vacant lots and the development of retail spaces specifically for minority owned businesses.
Chase’s branch retrofits plan to reduce lighting energy use by 50%, electric and gas consumption by 15%, and water consumption by 20%, according to CP Executive.