MIAMI (CBSMiami) – A major investment is coming to South Florida and it’s all thanks to JP Morgan Chase.

An affordable housing initiative has been announced and partners believe it will show Miami to be a place of resilience, hope, and creativity.

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JP Morgan Chase is giving a $5 million grant to build affordable housing along the transit corridors.

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“We’ve identified this corridor for several reasons, 1. It’s a corridor at great risk of gentrification. 2. It’s located very close to transit. 3. It’s on some of the highest ground here in South Florida. So when we’re locating people into affordable housing, we’re putting them in some of the safest parts of the community,” said Mandy Bartle with the South Florida Community Land Trust.

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The initiative is said to take place over the next three years.