U.S. Bank and McCormack Baron Salazar Partnership Surpasses $300 Million of Private Investments
December 5, 2012 | McCormack Baron Salazar
Local Partnership Revitalizing Communities in St. Louis and Across the Country
Two St. Louis based community development organizations – U.S. Bancorp Community Development Corporation and McCormack Baron Salazar – announced a major milestone in their three decade-long partnership this week. To date, USBCDC, the community investment subsidiary of U.S. Bank, has invested more than $300 million of equity in support of $869 million of revitalization efforts spearheaded by McCormack Baron Salazar, a leading national developer of economically-integrated urban neighborhoods.
“Crossing this milestone with McCormack Baron Salazar illustrates our shared dedication to strengthening communities across the country by creating jobs, generating economic opportunity, providing social and support services, and developing quality housing,” said Zack Boyers, chairman and chief executive officer of U.S. Bancorp Community Development Corporation. “Together, we’re facilitating real, lasting change.”
“Our partnership with U.S. Bank has led to the direct, comprehensive revitalization of neighborhoods and cities across the country, from Los Angeles to North Carolina, from Seattle to New Orleans,” said McCormack Baron Salazar chairman and chief executive officer Richard D. Baron. “In the past decade alone, investments from U.S. Bank combined with the development expertise of McCormack Baron Salazar, have housed 2,300 families and seniors and 1.7 million square feet of commercial space in low-income urban areas.”
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