Midwest BankCentre recently donated a St. Louis office to the Dream Builders 4 Equity nonprofit.
The donation of the property at 3529 N. Broadway, valued at $570,000, will allow the nonprofit to convert the office into its headquarters and a community resource hub with collaborative spaces for the local Hyde Park community.
DB4E has started fundraising to renovate the building. The Missouri Housing Development Commission’s Affordable Housing Assistance Program provided Midwest BankCentre with a tax credit for the donation.
The headquarters will include space for financial literacy courses, homeowner training, neighborhood meetings and other community initiatives. DB4E plans to add 15 one-bedroom dormitories for lease to young adults whom the nonprofit employs for its home-building and repair program.
Launched in 2016, DB4E teaches trainees ages 16 to 24 about personal finance, construction and real estate investing. The nonprofit is looking to renovate 50 properties in the Hyde Park neighborhood by 2025. Trainees receive scholarships through partnerships with local minority contractors once properties are sold.
“We are happy for this opportunity to live our mission as a community-focused, customer-centric, values-based community bank that helps us all rise together,” said Orvin Kimbrough, chair and CEO of Midwest BankCentre. “Our donation strengthens our impact on helping local communities thrive through access to opportunity and capital. It also amplifies our dedication to shared prosperity in partnership with nonprofits doing great work in our region.”
Midwest BankCentre will keep a branch at the location with lobby hours by appointment- only and drive-up service from 9 a.m. to 5 p.m. Monday through Friday.
“We are immensely grateful to Midwest BankCentre for believing in our mission and backing our efforts in such a transformational way,” said DB4E President and CEO Michael Woods. “We are proud to create beautiful homes for first-time home-buyers and to help St. Louis youth build the skills to pursue careers in construction.”