CINCINNATI — Watching community leaders break ground on Avondale’s first bank, longtime resident Jonathan Harris said he could see progress in real time.
“We can see it growing,” Harris said. “The last two months, it’s been like 90 miles an hour, and that’s a good thing."
In the last few years, Avondale has seen a new grocery store, pharmacy, apartments, restaurants, retail shops and library upgrades.
WATCH: See Avondale's growth here
On Thursday, Fifth Third Bank broke ground on a new full-service branch expected to open in late summer or early fall.
“Development follows with the financial institution,” said Kala Gibson, Executive Vice President & Chief Corporate Responsibility Officer at Fifth Third Bank.
Fifth Third said it has invested $33.6 million in direct investments into the neighborhood since 2021. It said it helped catalyze an additional $17.9 million from other entities.
While it may seem like neighborhood development is coming online seemingly overnight, the executive director of the Avondale Development Corporation, Russ Hairston, said it is decades in the making.
“It’s been a lot of planning, a lot of vision, a lot of disappointment, but through hard work comes success, and that’s why we’re here,” Hairston said.
WATCH: Hundreds celebrate opening of Avondale's new grocery store, ending the neighborhood's food desert
Avondale is the largest Black community in Cincinnati. Hairston said the development corporation has been fighting against an unsubstantiated, stereotypical image of an unsafe community.
The investment by a corporation like Fifth Third Bank, he said, helps change the narrative.
“Not only is it safe to come into Avondale and open your business, but you now have a partner you can work with to grow your business,” Hairston said.
Housing is a major priority for the Avondale Development Corporation. Hairston said the group would like to see market-rate housing, affordable housing and workforce development housing (80-120% of the area median income).
Patrick Cartier, Avondale Development Corporation's director of operations and community, said the group is working with Fifth Third to increase homeownership, including education, credit repair and closing financial literacy gaps.
“We’re looking to maybe build some homes and get some Avondale residents in them,” Cartier said.
The homeownership rate in Avondale is 27%, according to the corporation. That’s less than half the national average.
The visible developments in the neighborhood make a big impact on the children, long-time resident Harris said.
“They can see how they can be entrepreneurs and own it themselves,” Harris said.
WATCH: This Black-owned pharmacy in Avondale gives support to the community in need
