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Chicago & Midwest  + Downtown  + Opportunity Zones  | 

Fifth Third Makes $100M Commitment to O-Zones

Fifth Third Bank said it would invest $100 million in projects that support community development through four Opportunity Zone fund partners. The first two partners are Local Initiatives Support Corporation (LISC) and Raymond James, both announced Friday in New York City. On Monday, Jan. 27, Fifth Third announced Chicago-based Decennial Partners and California-based Fallbrook Multifamily as its third and fourth partners.

The funds will be used to develop projects in low-income urban and rural communities across the Cincinnati-based bank’s 10-state footprint. Fifth Third said the investment represents one of the largest made by an institution with a social impact investment strategy in Opportunity Zones.

“We are committed to forging impactful partnerships that deliver community revitalization,” said Fifth Third’s chairman, president and CEO, Greg D. Carmichael. “We are proud to use this innovative approach to ensure our capital will serve the communities that are most in need.”

The first projects from the initiative should be announced by June 30.

Pictured, from left: Byna Elliott,Fifth Third Bank; Maurice A. Jones, LISC; Catherine Cawthon, Fifth Third CDC; and Jesse Van Tol, National Community Reinvestment Coalition.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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