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Chase Announces Major Gift To The Team Gleason House

Stocks in this article: JPM

The Team Gleason House for Innovative Living will be a residential facility within St. Margaret’s that provides care for people living with incurable neuromuscular disorders, such as ALS and MS. Since these diseases are incurable, The Team Gleason House’s approach will focus on employing technology that allows patients to control doors, lights, televisions, shades, and other devices through eye-sensitive technologies.

The Team Gleason House for Innovative Living will be located within one mile of the city’s new BioDistrict, which is expected to provide employment for 5,500 people in its first five years. Over 10 years, 13,400 direct and indirect jobs are expected to be created.

“The Team Gleason House will be equipped with cutting-edge technology, making it part of the city’s progress in developing a more entrepreneurial, innovative economy,” said Todd Maclin, Chairman of Chase Consumer and Commercial Banking. “Investing in biosciences and digital technology will create more economic diversity and greater opportunity in New Orleans.”

Since Hurricane Katrina, Chase has donated more than $30 million to non-profits working in Louisiana. In New Orleans, Chase is working with non-profits, residents, and other funders to support the city’s transformation, focusing on two high-need neighborhoods: Central City and Treme. Highlights include support for revitalizing the historic OC Haley Boulevard; grants for the Chase Business Incubator, which provides essential services to low-income, minority and women-owned small businesses; and the CP3 Afterschool Zone, an enriching afterschool program for children in Central City. Chase also supports the Idea Village, a nationally-recognized leader working to catalyze an entrepreneurial ecosystem in New Orleans.

In addition to the firm’s philanthropy, Chase has provided special financing for $294 million worth of affordable and mixed income housing – more than 4,200 units - in Louisiana since 2005. Projects include the redevelopment of the Lafitte Public Housing in Treme, financing for the King Rampart Street apartments in Central City, and financing for the historic rehabilitation of 1501 Canal Street into housing for seniors.

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