Bank of America Provides an Old War Plant a New Life, Inspiration and Equity

Since it first opened in 1930, the former Ford Assembly Plant in Richmond, California has been many things: a striking example of modern industrial architecture, the largest automobile assembly plant on the West Coast and, during World War II, part of a vast mobilization to produce armored cars and other military vehicles that supported the war effort of the U.S. and its allies. Now, $13.8 million of Bank of America equity products are helping to give this Albert Kahn-designed plant a new life as a home for manufacturers of environmentally sustainable products.

The resurrected building, now called Ford Point, uses green design elements and solar panels for improved energy efficiency. The rehabilitation will create 150 construction jobs and as many as 1,000 permanent jobs, boosting the local economy in Richmond. Bank of America's contribution to the rehabilitation of this facility included several bank equity products: a historic tax credit equity investment (for revitalizing urban communities); a new markets tax credit equity investment (for revitalizing low-income communities); and a solar tax credit equity investment (for purchasing and installing solar equipment).

Ford Point is listed on the National Register of Historic Places and incorporates signature Kahn features such as skylights that enable natural light to reach the vast interior space. An architect associated with Detroit's big automakers, Kahn designed many of the innovative and iconic industrial buildings in the first half of the 20th century, including the massive Ford River Rouge Complex in Dearborn, Michigan that employed 120,000 workers at its peak. Ford Point is part of the "Rosie the Riveter/World War II Home Front National Historical Park," which preserves and interprets the stories and places of our nation's home-front response to World War II.


Quick Facts

  • A striking example of modern industrial architecture, Ford Point was once the largest automobile assembly plant on the West Coast
  • A total of $13.8 million of Bank of America equity products (solar, new market and historic tax credit equity investments) are helping to give this historic plant a new life
  • The 517,000 square foot building is now home to several manufacturers of environmentally sustainable products and pays tribute to its important role in WWII with a new museum and park
  • Bank of America's actions will help create 1,000 permanent jobs for Richmond, California