Fifth Third Bank is investing millions in this Charlotte neighborhood. Here’s how.

Fifth Third Bank is investing up to $20 million in Charlotte’s Historic West End, the bank announced Thursday, as part of a broader campaign to support economic revitalization in nine majority-Black communities across its markets.

The Cincinnati-based bank is partnering with nonprofit LISC Charlotte to use the money for lending, investments and philanthropic support in the West End neighborhood.

“We are committed to creating a vibrant Historic West End where people can not just survive, but can thrive,” said Jada Grandy-Mock, chief corporate community economic development officer with Fifth Third.

The commitment is part of a larger neighborhood reinvestment program established by the bank and its foundation that will invest $180 million in majority-Black communities across the South and Midwest. The bank selected nine neighborhoods across seven states that have seen “a sustained period of disinvestment,” it said in a release.

The West End project isn’t the first time the bank has committed to a Charlotte-specific cause: in 2019, it pledged $10 million to the city’s affordable housing efforts.

Grandy-Mock, who is based in Charlotte, said she grew up living in public housing in a historically Black community that experienced economic challenges like disinvestment.

“I saw what happened to my community, and I always wondered what could be possible, what I could do to change that, ” she said. “That is why I became a banker.... because nothing happens without capital. This is personal for me.”

Charlotte’s West End, which surrounds Johnson C. Smith University, is one of the city’s oldest African-American neighborhoods.

It has been a “haven” for Black culture, business and families in the city, said Ralphine Caldwell, executive director of LISC Charlotte, a local chapter of a national nonprofit that finances and supports community development.

“Investments in the future (of West End) are investments in the well being of our city,” Caldwell said. “But not all investments are alike.”

The Beatties Ford Road corridor, a historically Black part of Charlotte, has been threatened by gentrification. Residents have expressed their concerns about development that could raise rents and displace residents.

Those forces have put “enormous pressure” on longtime residents of the West End neighborhood, Caldwell said.

“Yes, we want new residents and businesses to take advantage of the rich landscape of the Historic West End,” she said. “But we also want long-term residents to benefit from the increased income and wealth opportunities that come with revitalization.”

LISC Charlotte will help lead the bank’s investment in the area. The nonprofit will work with grassroots organizations West Side Community Land Trust, For the Struggle and Historic West End Partners to implement the program.

“This is not about Fifth Third coming to this community to tell them what the vision should be,” Grandy-Mock said. “This is about them determining what the vision should be for this corridor, and us coming along as the guide on the side and not the sage on the stage.”

The bank and LISC Charlotte announced the commitment at a community event Thursday morning that was attended by grassroots leaders, local business owners and Mayor Vi Lyles, among other community members.

“So many people see communities like (West End) and focus on the challenges,” Grandy-Mock said. The investment, she said, can help transform that challenge into an opportunity.

“I’m excited to see hope restored,” she said.