Officials with J.P Morgan Chase Bank say they are continuing to redevelop Detroit’s Capitol Park by breaking ground on two downtown buildings.
Last year company officials said they would earmark $100 million over five years to help Detroit’s economic recovery.
Chase Chair and CEO Jamie Dimon says the company has already invested about a third of that money into the city.
“The $100 million effort was a special effort to make investments in community development and works skills initiatives developments like this and after one year we actually $34 million of that money to work to try to help Detroit,” Dimon says.
Dimon says another $32 million has been invested to help remove debt and finance the Capitol Park Lofts and the Detroit Savings Bank.