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Russell neighborhood to be recipient of multi-million dollar funding initiative

Published: Oct. 19, 2021 at 2:58 PM EDT
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LOUISVILLE, Ky. (WAVE) - Another multi-million dollar investment is being made in West Louisville. This one’s happening in the Russell neighborhood.

The organization, Russell: a Place of Promise (RPOP), secured $20 million in funding from the Fifth Third Foundation after an invite-only application process.

”Just think about the possibilities that my residents, my neighbors will have,” said Jackie Floyd, a long-time Russell resident.

Floyd has lived in the Russell neighborhood for over 30 years. She’s also part of RPOP. They’re now one of nine majority-black neighborhoods getting that investment in small businesses, homeownership and workforce development.

“We want to create opportunities for African Americans to create intergenerational wealth and rise out of poverty into prosperity,” said Jada Grandy-Mock, Fifth Third Chief Corporate Community Economic Development Officer.

The announcement from Fifth Third came Tuesday at the Norton Health Sports and Learning Complex, which itself is one of the largest investments the Russell Neighborhood has ever seen. With the money now coming from Fifth Third, there’s a lot more room for progress, Floyd hopes.

“As a resident we’ve always loved Russell,” said Floyd. “It was just getting other people outside of the Russell area to love Russell and see Russell as we see it.”

Individual investments will be made to organizations like New Directions Housing and LHome for fair lending, Interapt for workforce development and others.

The funding initiative is all part of a $2.8 billion investment from Fifth Third nationwide to invest in majority-black neighborhoods.

Other neighbor hoods include:

  • Avondale, Cincinnati, Ohio: Avondale Development Corp.
  • South Chicago, Chicago, Illinois: Claretian Associates.
  • Buckeye, Cleveland, Ohio: Cleveland Neighborhood Progress.
  • East Tampa, Tampa, Florida: Corporation to Develop Communities of Tampa, Inc.
  • Grove Park, Atlanta, Georgia: Grove Park Foundation.
  • Arlington Woods, Indianapolis, Indiana: Jewell Human Services Corp.
  • Historic West End, Charlotte, North Carolina: LISC.
  • Near East Side, Columbus, Ohio: Partners Achieving Community Transformation.
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