X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

DETROIT-After donating a bank branch to U-Snap-Bac, an agency that helps with low-income housing in the city, Bank One also provides a construction loan to renovate the branch.

The renovated building is now U-Snap-Bac’s administrative office and center for its community outreach programs, which includes first-time homebuyer workshops, financial literacy classes, and a host of informative community meetings and seminars. U-Snap-Bac also helps low-income residents with home repairs, conducts a crime-prevention program and provides business incentive grants to maintain andpromote small businesses.

U-Snap-Bac will share its new meeting rooms and office resources with the many neighborhood associations and block clubs it assists, says Linda Smith, the organization’s executive director.

U-Snap-Bac, formed in 1985, is developing Morningside Commons, a three-phase, $20-million affordable housing project that currently includes 40 single-familyhomes, 64 rental townhouse units and a community park. The group plans to embark soon on the final phase–50 single-family homes for low- and moderate-income residents–in the area bounded by Mack, East Warren, Alter and Wayburn avenues.

“Bank One’s interest in improving conditions for the residents on the east side of Detroit has lead them to donate their former bank building,” Smith says. “Without their dedication to the community, this opportunity could not have presented itself. This building will not only enhance the current operations of U-Snap-Bac, but it will be a place where residents use community resources in the heart of their neighborhood. There is no greater place to do this than this beautifully renovated facility.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.