Karla Henderson:
I just feel that the Twin Cities was living a little bit in a bubble but it happened here and set off a worldwide protest.
[CARD: The Wells Fargo Branch at 3030 Nicollet in Minneapolis was destroyed during the civil unrest of May 2020.]
Ali Halley:
The community was really hurting and Wells Fargo wanted to respond.
[Title Card: Building a Brighter Tomorrow]
Ali Halley:
Instead of just rebuilding a branch, we wanted to help heal and grow that neighborhood.
[TITLE CARD: Ali Halley, Managing Director, Wells Fargo Commercial Real Estate, Community Lending & Investment]
Karla Henderson:
At Project for Pride and Living, we believe how we build is just as important as what we build,
[TITLE CARD: Karla Henderson, President & CEO, Project for Pride in Living]
and that means with community. Wells Fargo said, “We want to reimagine this site.” Residents wanted affordable housing. So check, 110 units will be built there.
Ali Halley:
The community lending and investment group provided $60.5 million in construction financing, a low income housing tax credit equity investment and a permanent loan commitment for the development of the project.
This new development is the result of an engaged community outreach process that included community listening sessions.
Karla Henderson:
The biggest thing residents kept saying is we want to own something. There's going to be four retail spaces for small businesses to own, not lease, own.
Ali Halley:
We're seeing what a redevelopment can do to really reengage and enliven in the whole community
Jon Weiss:
The impact here is truly remarkable. We’re celebrating an important step forward.
[TITLE CARD: Jon Weiss, Co-Chief Executive Officer, Wells Fargo Corporate & Investment Banking]
Karla Henderson:
The pillars coming up out of the ground, it's progress. It's the hope. It's the future.
Abdirahman Kahin:
This will be my first time
[TITLE CARD: Abdirahman Kahin, CEO, Afro Deli & Grill]
owning my own restaurant space and be my own landlord. This project will be something that the whole community will be proud of.
Close with music
Sponsored by Wells Fargo Corporate & Investment Banking
Wells Fargo businesses were committed to this development
Commercial Real Estate
Community Lending & Investment
Commercial Banking
Consumer & Small Business Banking
Corporate Properties
Government Relations
Wells Fargo Foundation
Sponsored by Wells Fargo Corporate & Investment Banking
The Next Horizon
Project for Pride in Living
bloomberg.com/thenexthorizon
Wells Fargo Corporate & Investment Banking (CIB) and Wells Fargo Securities (WFS) are the trade names used for the corporate banking, capital markets, and investment banking services of Wells Fargo & Company and its subsidiaries, including but not limited to Wells Fargo Securities, LLC, member of NYSE, FINRA, NFA, and SIPC, Wells Fargo Prime Services, LLC, member of FINRA, NFA and SIPC, and Wells Fargo Bank, N.A., member NFA and swap dealer registered with the CFTC and security-based swap dealer registered with the SEC, member FDIC. Wells Fargo Securities, LLC and Wells Fargo Prime Services, LLC, are distinct entities from affiliated banks and thrifts. © 2024 Wells Fargo & Company.
