$681,000 will go towards implementing Hunting Park's Neighborhood Strategic Plan 2022, Nueva Esperanza's $26-million 10-year plan to revitalize the section of Philadelphia.
"Esperanza is a great partner with a history of making investments in the community with those issues that matter most to the community," Denise McGregor Armbrister of the Wells Fargo Regional Foundation said.
Since it open its doors over three decades ago, Esperanza has embarked on a number of initiatives.
A while back, they bought a dilapidated property in the 4500 block of North 5th Street, cleared it and attracted Rite Aid to build a pharmacy there.
They opened a charter high school, Esperanza Academy.
Most recently, they bought a 10 acre lot where a paper mill once stood. In addition to housing the group's new offices, plans are to house another charter school there among other initiatives.
Councilwoman Maria Quinones Sanchez endorsed the plan today.
"We are committed. We are all in," Sanchez said.
The mayor's deputy director of commerce also pledged the city's support.
The group's president and founder Reverend Luis Cortes says none of this would be possible without financial support from those investing in communities like the Wells Fargo Regional Foundation.
"Thank you Wells Fargo for being with us throughout the years; as we go forward, the best is yet to come," Cortes said.