2003 Annual Report: Raising the Bar in Neighborhood Excellence (Page 2 of 3)

Across the street from the Hippodrome is Centerpoint, with 394 market-rate apartments, prime retail and restaurant space, parking, a business center, a courtyard and exercise facilities. Bank of America redeveloped Centerpoint in a joint venture with a minority-owned real estate firm, creating more than 500 new jobs.

In Westside and nearby Harlem Park, we acted as developer, partnering with a minority-managed, neighborhood-based community development corporation to create the first new housing in the neighborhood in 25 years. We funded a neighborhood study that identified a need for senior housing and services for low-income residents. As a result, the project features services requested by residents and local officials, including medical facilities and a café.

A $5.5 million loan for the Heritage Crossing project helped to build 185 single-family homes where blighted public housing complexes once stood. Nearby, the restoration of the Orchard Mews apartment complex provides more than 100 affordable rental units.

In addition, Bank of America Foundation grants to Westside and other Baltimore neighborhoods help fund social services, cultural programs, education, health care and job-training programs, enabling us to fulfill our pledge to bring higher standards to our efforts to help build neighborhoods.