Chase announced that its Community Development Banking (CDB) business launched a new Capital Solutions group to expand access to capital for projects that strengthen communities.
Under the leadership of company veteran Lionel Lynch, the team will provide financing solutions to develop new housing for individuals and families earning a wider range of incomes than conventional affordable housing projects serve and to support vital community facilities. CDB Capital Solutions will partner with a broad range of capital sources and partners, including mission-oriented investors, state and local public subsidies, and businesses and institutions with a commitment to community development.
“The creation of the Capital Solutions group is an important step in further enhancing our ability to increase access to workforce and affordable housing and deliver impactful community facilities throughout the country,” said Alice Carr, head of CDB. “With his breadth and diversity of real estate finance, community development and public sector experience, I’m thrilled that Lionel will lead this expansion of our capabilities.”
Lynch and the his team will develop project financing options that are independent from low-income housing tax credit (LIHTC) equity or other federal subsidies. He will also collaborate with other businesses across JPMorgan Chase to strengthen and build new relationships with clients, public sector agencies and capital partners.
Previously, Lynch was an executive director of Community Reinvestment Strategy within the firm’s corporate responsibility team and brings a unique background to this role which includes leading multifamily development projects, serving in federal housing agencies, and advising public-private partnerships.
“I’m honored to lead Capital Solutions and excited to work with our clients to finance innovative projects that reinvest in our communities, advance racial equity and support inclusive economic growth across the country,” said Lynch.