2003 Annual Report: Raising the Bar in Neighborhood Excellence (Page 1 of 3)

In Baltimore's inner-city Westside, as in similar communities across the country, residents and businesses look to Bank of America's leadership, financial services and development expertise to help their neighborhoods thrive.

Westside, a historic but neglected neighborhood, is a prime example of the depth of the bank's community development commitment. For nearly a decade, the city, the state and partners like Bank of America have tackled projects in the 24-block Westside. Committing $100 million in loans and investments to the effort, we are helping to create decent, affordable housing; reintroduce vital neighborhood services; stimulate small business growth; and support cultural events — boosting community pride and increasing economic opportunity.

The newly renovated Hippodrome Performing Arts Center is both cornerstone and symbol for a $700 million revitalization that has changed the way residents view the historic neighborhood. The Hippodrome opened in 1914 as a vaudeville theater, but was transformed in 2003 into a 170,000-square-foot performing arts complex made possible by a Bank of America investment of more than $10 million. We also provided financing to bridge charitable contributions. City officials expect the theater's 2,250-seat auditorium to host a wide range of cultural events, helping fuel a Westside renaissance.