Megachurch pastor T.D. Jakes’ plan to redevelop about 95 acres of the former Fort McPherson Army base into a mixed-use, mixed-income community got a major boost recently, with Wells Fargo & Company forming a 10-year strategic partnership with the T.D. Jakes Group.
The southwest Atlanta project, which will include single-family homes, townhouses and apartments, is one of the first endeavors the partnership will undertake. Wells Fargo will serve as a financial partner to T.D. Jakes Real Estate Ventures LLC, which is developing the project.
Plans call for ample green space, bike paths, recreation centers and historic business and cultural districts. The aim of the community is to improve the quality of life for residents with healthy food choices, healthcare options and other wraparound services, according to a press release.
“This alliance with our organization allows us to further our four decades-long work to provide economic justice, eradicate food deserts, construct desirable workplaces and affordable housing, closing the digital divide and ultimately help families leave a rich and lasting legacy for the next generation,” Jakes said. “We are committed to ensuring additional opportunities actually reach as many areas of need that we can influence. Disruptive partnerships like this create a paradigm shift in how we can collectively bring long overdue transformation, particularly to Black and Brown communities and other marginalized groups around our nation.”
The partnership could bring up to $1 billion in capital and financing, as well as grants from the Wells Fargo Foundation, toward revitalizing underserved neighborhoods and creating economic opportunities over the next 10 years.
“We are excited to collaborate with the T.D. Jakes Group as they play a key role in the transformation of communities that will have a lasting impact for generations to come,” Wells Fargo CEO Charlie Scharf said. “This strategic partnership goes beyond a one-off capital investment and underscores our continued commitment to diverse and inclusive communities.”
Plans call for ample green space, bike paths, recreation centers and historic business and cultural districts. Courtesy of T.D. Jakes Real Estate Ventures.