BronxWorks and JPMorgan Chase Announce Pilot Program to Increase Access to Affordable Housing by Connecting Small Landlords and Vulnerable New Yorkers Experiencing Homelessness with Housing Vouchers

(Bronx, NY - April 26, 2024) — BronxWorks and JPMorgan Chase announced today a new pilot program to increase access to available housing in the Bronx, while supporting owners of small residential properties.  JPMorgan Chase is committing $450,000 in philanthropic capital to support the newly launched BronxWorks Landlord Engagement Program, one of many programs BronxWorks provides to empower more than 60,000 Bronx residents annually.  This initiative will serve as the connective tissue between small landlords in the Bronx who want to provide affordable housing for their communities and Bronxites experiencing or at risk of homelessness who are eligible for housing vouchers. By providing education and support to small landlords, the program strives to engage additional landlords and have them accept housing vouchers, helping more vulnerable families find safe and stable housing.  The program aims to be a much-needed resource for victims of domestic violence as they take the next courageous step towards independence while providing stable tenants for small property owners.

This three-year pilot program will educate small landlords — those with properties that have one to four rental units — about housing vouchers and support them as they navigate the housing voucher program and process. BronxWorks will then connect these landlords with prospective tenants who are experiencing homelessness or at risk of homelessness due to domestic violence and have housing vouchers, working closely with both the tenants and landlords. BronxWorks will also help connect landlords with emergency grants for one-time fixes required for voucher eligibility and other needs that may arise.

“A shortage of safe, stable, and affordable housing is at the core of so many barriers that our Bronx neighbors face — which is why a focus for BronxWorks is to provide services aimed at homelessness prevention,” said Eileen Torres, CEO, BronxWorks. “While we have traditionally focused our work on those seeking housing, this innovative pilot enables us to engage landlords who want to provide affordable homes for their community but require support.  We’re incredibly grateful to JPMorgan Chase for their partnership in identifying this need and supporting this work financially.”

“Housing affordability is one of our city’s most pressing issues and solving it will require all of us — landlords, tenants, non-profits, government, and the private sector — coming together and working in lockstep,” said Marco Villegas, Vice President, Global Philanthropy at JPMorgan Chase. “That’s why this announcement is more than a funding agreement to support a worthwhile program: it’s part of a full-throated commitment to collaborate closely with our communities, and prove this model can improve New Yorkers’ lives by uplifting both tenants and property owners.”

According to New York City data, just 0.3 percent of families with children experiencing homelessness that left a shelter in FY23 with a voucher returned within one year, compared to 15.2 percent of families who did not have vouchers. Despite this, many landlords require additional resources to ensure they are in compliance with voucher programs and able to provide affordable housing for their neighbors.

BronxWorks will provide both tenants and landlords with case management and other services including access to financial literacy workshops. This support will help ensure tenants successfully transition out of shelter and remain stably housed while helping small landlords effectively manage their properties. For more information on the program, visit www.bronxworks.org.

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About BronxWorks

With more than 60 locations throughout the borough, BronxWorks has worked from the ground up in Bronx communities for over 50 years to help residents build healthy, stable futures for themselves and their neighborhoods. BronxWorks helps individuals and families improve their economic and social well-being. From toddlers to seniors, we feed, shelter, teach, and support our neighbors to build a stronger community. For more information about BronxWorks, visit www.bronxworks.org.

About JPMorgan Chase

JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorgan Chase had $4.1 trillion in assets and $337 billion in stockholders’ equity as of March 31, 2024. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.