T.D. Jakes Group and Wells Fargo have announced a breakthrough 10-year agreement to build inclusive communities for people of all income levels. On Thursday, “CBS Mornings” made the announcement.
Wells Fargo has committed to contributing up to $1 billion as part of an agreement to support various community development initiatives.
Bishop T.D. Jakes stressed the urgency of taking action immediately to aid minority communities.
He remarked, “The outlook for minorities, especially Black and Brown individuals, as well as economically disadvantaged White individuals who are struggling to find employment opportunities, housing prospects, and opportunities for advancement, appears quite grim.”
The initial project within this partnership centers on the construction of mixed-income housing and retail establishments to the west of Atlanta. This endeavor will unfold on a vast 95-acre site previously known as Fort McPherson, situated adjacent to Tyler Perry Studios.
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Jakes explained his participation in the agreement for two primary reasons. Firstly, he is driven by a desire to leave a positive legacy and give back to those who have shown loyalty and support, aiming to make a meaningful difference in their lives.
Secondly, his interest stems from a commitment to contribute to the development of mixed-income housing, which offers improved prospects for future generations.
He emphasized the significance of mixed-income housing, stating, “The importance of mixed-income housing cannot be overstated because we have previously experimented with low-income communities, which often deteriorate and turn into impoverished areas. Mixed-income housing yields far better outcomes, including enhanced safety, improved educational opportunities, and increased upward mobility.”
The T.D. Jakes Group comprises four business entities, including T.D. Jakes Ministries and the T.D. Jakes Foundation, both of which are non-profit organizations. Additionally, there are for-profit businesses, namely T.D. Jakes Enterprises and T.D. Jakes Real Estate Ventures.
Bishop T.D. Jakes also serves as the pastor of the Potter’s House Church, but it’s important to note that his partnership with Wells Fargo is unrelated to the church.