“We think that financial confidence starts with home ownership," says John Reid, Charlotte Market President for SunTrust Bank. “SunTrust Bank is going to make a collective gift of 15 million dollars for the Foundation of the Carolinas to be used to promote affordable housing in our community.”
Both SunTrust and BB&T each committing $15 million, a total of $30 million toward affordable housing.
Mecklenburg County faces a deficit of more than 30,000 affordable housing units according to the foundation.
“Its been proven to be one of the critical needs in our community," says Wes Beckner, Metrolina Region Regional president.
“I mean, it’s big numbers but it really just scratches the surface. There really is an incredible need even beyond the process of what we are trying to solve today," says Beckner.
The 30 million announced goes towards the Foundation for the Carolina’s campaign to raise $50 million, which would match the $50 million bond referendum that tax payers approved last November – boosting the city of Charlotte’s housing trust fund.