2010 Chase Community Development Competition Opens for Students and Nonprofits

COLUMBIA, Md., April 15 /PRNewswire/ -- Chase and Enterprise Community Partners, Inc. (Enterprise) today announced the opening of the 2010 Chase Community Development Competition, offering college students and local nonprofit organizations an opportunity to collaboratively design a real estate development in New Orleans. Students from universities across the country will get real-world experience by helping to revitalize low- to moderate-income neighborhoods in New Orleans through the creation of sustainable development plans with a community development partner. The nonprofit partner of the winning teams will receive a predevelopment grant for the first, second and third place entries in the amount of $25,000, $15,000 and $10,000, respectively.

"Chase is committed to strengthening neighborhoods by connecting community leaders with innovative solutions," said Lizette Terral, Chase President in New Orleans. "For the past three years, the Chase Community Development Competition has made a positive difference in the lives of our customers and neighbors in New Orleans."

The competition began 15 years ago in New York City and has been focused for the past two years on rebuilding efforts underway in New Orleans. The teams are comprised of six to eight students and can be made up of students from multiple schools or disciplines. Each team will complete a real estate development proposal, including a financial analysis and architectural renderings.

"Enterprise's partnership with Chase is one more way we're working in New Orleans to help rebuild communities," said Michelle Whetten, vice president and Impact Market leader, Enterprise Community Partners, Inc. "Students participating in the competition garner professional community development experience and work to bring much-needed community services to local neighborhoods -- from grocery stores to small business incubators."

Project abstracts are due Friday, September 24, 2010 and complete proposals are due on Tuesday, November 2, 2010. Up to six semi-finalist teams will be selected to present their projects in the final round of competition in New Orleans on November 30, 2010.

The three wining proposals from the 2009 Chase Community Development Competition included:

• The University of New Orleans, DePaul University and Louisiana State University in partnership with the Lower Ninth Ward Center for Sustainable Engagement and Development on the redevelopment of 5523 St. Claude Avenue into a fresh food grocery store;

• The Massachusetts Institute of Technology and Washington University in St. Louis in partnership with Broad Community Connections to create Broad Street reFresh, a fresh food hub for community, health and economic development; and

• The New School in partnership with the Neighborhood Empowerment Network Association (NENA) to develop the NENA Housing & Economic Development Resource Center.

Enterprise will host a Live Online Event on Thursday, September 9, 2010 from 3:30 – 5 p.m. CDT to offer detailed information about the competition rules and requirements. To learn more about the competition or register for this online event visit http://www.enterprisecommunity.org/local_work/gulf_coast/chase_competition.asp

About Chase

Chase is the U.S. consumer and commercial banking brand of JPMorgan Chase & Co. (NYSE: JPM), which operates more than 5,100 branches and 14,000 ATMs nationally. Chase has 160 branches in Louisiana and 4,200 employees statewide. JPMorgan Chase donates more than $100 million annually to more than 3,000 non-profit organizations in local communities, nationally and abroad. More information about Chase is available at www.chase.com. 

About Enterprise

Enterprise is a leading provider of the development capital and expertise it takes to create decent, affordable homes and rebuild communities. For more than 25 years, Enterprise has introduced neighborhood solutions through public-private partnerships with financial institutions, governments, community organizations and others that share our vision. Enterprise has raised and invested more than $10 billion in equity, grants and loans to help build or preserve more than 250,000 affordable rental and for-sale homes to create vital communities. Enterprise is currently investing in communities at a rate of $1 billion a year. Visit www.enterprisecommunity.org and www.enterprisecommunity.com to learn more about Enterprise's efforts to build communities and opportunity.

SOURCE Enterprise Community Partners, Inc.