JPMorgan Chase is funding innovative solutions to address economic inequality and Abt is serving as JPMorgan Chase’s national evaluation partner for the AdvancingCities Challenge and PRO Neighborhoods competitions. In this role, we evaluate the outcomes and impact of investments of the PRO Neighborhoods collaborative grantees. This report highlights their recent activities and progress.
In 2021, many PRO collaboratives witnessed instability and displacement due to rising commercial and residential rents and continuing pandemic-related challenges. Abt found they responded by sharpening their strategies to address affordable housing, broadening their scope to address residents’ multifaceted needs, and partnering with a range of stakeholders to help residents continue living and working in their neighborhoods.
Through year-end 2021 the PRO collaboratives made nearly 37,000 loans and other investments, totaling over $622.5 million.