Companies Grant $1 Million Each for Renovation of Historic Grove Theatre
ATLANTA, April 27, 2023 /PRNewswire/ -- Today, Bank of America and Chick-fil-A, Inc. announced their combined commitment of $2 million to Grove Park Foundation to create the Grove Park Performing and Cultural Arts Center by renovating the historic Grove Theatre on Donald Lee Hollowell Parkway.
The new Grove Park Performing and Cultural Arts Center, located at 1576 Donald Lee Hollowell Parkway, will create an accessible marketplace for small businesses and house community and cultural programming. The 10,000-square-foot facility will feature performance and studio space for arts and culture partners, office space, and a café/vending space.
"Our longstanding commitment to the Grove Park Neighborhood and its residents, in partnership with Grove Park Foundation, is part of our approach to driving economic opportunity in Atlanta," said Bank of America's Wendy Stewart, president, Global Commercial Banking. "This grant is just one way we are working to remove barriers to economic success and building a more sustainable community." Stewart will also serve as chair of Grove Park Foundation's Grove Park Forward capital campaign, of which the theatre is a key component.
Chick-fil-A's senior director of corporate social responsibility Brent Fielder echoed Stewarts remarks, adding, "Chick-fil-A is a long-time supporter of Grove Park Foundation and their impactful work in this Westside Atlanta community. As part of our commitment to caring for communities, we are honored to make this investment in helping preserve this historic Atlanta neighborhood."
Grove Park Foundation acquired a historic theatre building in 2017 as part of its early commercial and affordable housing investments. The building previously had multiple uses and increasingly fell into disrepair. With Fox Theatre Institute grants for historic planning and emergency repair, and early funding from the Kendeda Fund, Grove Park Foundation has worked with the community to envision a cultural and performing arts center with flexible space for performance, program, wellness and small business activities.
"The renovation of a historic building in the heart of the Grove Park community is a key to revitalizing the commercial core," said Grove Park Foundation Executive Director Gavin McGuire. "We are creating affordable and accessible arts and commercial space to serve a neighborhood that has experienced generational disinvestment. The community has asked for this kind of flexible, engaging space, and with support from our partners we will be able to deliver."
Additional support from SouthFace's GoodUse Program will improve the building's efficiency to save on utility costs and improve its environmental impact.
Grove Park Foundation will be raising funds for its Grove Park Forwardcampaign in 2023, bringing new projects online and expanding existing efforts in affordable housing, affordable commercial, economic mobility, legacy resident retention, and "out of school time" initiatives for youth, while also bolstering its own internal capacity to ensure the organization can continue to serve as a resource to community residents. As the needs across the Grove Park community continue to grow, the foundation is inviting other partners to join efforts to assist residents in the areas of housing, economic mobility, arts and culture, education, and health.
Bank of America
Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 68 million consumer and small business clients with approximately 3,900 retail financial centers, approximately 15,000 ATMs and award-winning digital banking with approximately 56 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.
Chick-fil-A, Inc.
Atlanta-based Chick-fil-A, Inc. is a restaurant company known for the Original Chick-fil-A® Chicken Sandwich and signature hospitality. Represented by more than 170,000 Team Members, Operators and Staff, Chick-fil-A restaurants serve guests freshly prepared food at more than 2,700 restaurants in 47 states, Washington, D.C., Puerto Rico and Canada. The family-owned and privately held restaurant company was founded in 1967 by S. Truett Cathy and is committed to serving the local communities in which its franchised restaurants operate. Known for its leadership and growth opportunities, in 2022 Chick-fil-A was named a Best Employer in America by Forbes and a top company for career opportunities for Black employees by Glassdoor. The company was also awarded the Employee's Choice by Glassdoor honoring top CEOs and was named a Culture 500 Culture Champion in 2020. A leader in customer service, Chick-fil-A was named QSR magazine's Drive-Thru Restaurant of the Year in 2021. More information on Chick-fil-A is available at http://www.chick-fil-a.com and @ChickfilANews.
Grove Park Foundation
The Grove Park Foundation was formed in 2017 to revitalize Atlanta's Grove Park neighborhood and improve the quality of life by working with local partners, leaders, and residents to create a healthy, equitable, and vibrant community. Grounded in our core values of diversity, equity, and strategic partnerships, Grove Park Foundation will create the conditions for people to thrive by mitigating displacement and disruption, preparing current residents for current and future opportunities, and building capacity and infrastructure to sustain growth and development. The foundation's work is built on the strategic pillars of ensuring long-term affordability for mixed-income housing, building a quality education pipeline for Grove Park's students, creating economic vitality through economic development and economic mobility, and expanding access to community health and wellness opportunities.
Reporters may contact:
Matthew Daily, Bank of America
Phone: 1.404.607.2844
matthew.daily@bofa.com
Kim Nogi, Chick-fil-A
Phone: 1.404.406.1307
kim.nogi@cfacorp.com
Karen Rose, Grove Park Foundation
Phone: 1.404.217.6671
krose@groveparkfoundation.org
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SOURCE Bank of America Corporation
