NEW YORK, May 25, 2018 /PRNewswire/ -- TD Bank closed
on a $9.54M construction loan, used
to purchase bonds issued by the DC Housing Finance Agency which
will partially finance the adaptive reuse of part of a former
military building on the Walter Reed Army Base in Washington, D.C.
The project will include 77 units of "service-enriched"
affordable housing for homeless Veterans. The loan is
sponsored by HELP USA, Inc., a
national non-profit organization that provides homes, jobs and
services to people in need. HELP USA will provide social and supportive
services to the residents, and the units will be furnished to allow
for immediate occupancy for homeless individuals who may be coming
from shelters or other transitional housing.
"TD Bank is proud to partner with HELP USA on this very important redevelopment which
will provide safe and permanent housing for those who need it
most," said Gloribel Cruz, Vice
President at TD Bank. "This project further enhances the bank's
commitment to support low and moderate income families in our
communities, including Veterans who have put their lives on the
line to serve our country."
The project site will eventually become "The Parks at Walter
Reed" and will contain 2,100 residential units (of which 432 will
be affordable units), retail space with a grocery store anchor,
office space, a hotel and charter schools, as well as feature
various medical uses, arts and entertainment uses, and 20
acres of open park space. The Walter Reed National Military Medical
Center is still located on the property and will remain a fully
operational hospital.
"The Walter Reed campus has a storied history of serving the men
and women of our armed forces, and we are proud to be building
housing on this site that will continue that tradition. HELP
strongly believes that stable housing is the foundation of every
other social service. By developing apartments for homeless
veterans and providing on-site services we are helping people begin
to build better lives," said Tom
Hameline, President and CEO, HELP USA. "We could not do what we do without our
financial partners, and we're thankful to TD Bank for recognizing
how valuable this project will be for the larger community."
TD Bank is proud of its collaboration with HELP USA. Since
2005, it has provided more than $160
million of debt and equity financing to support its projects
and mission. This project also reinforces TD Bank's recent launch
of The Ready Commitment, a multi-year program designed to open
doors for a more inclusive tomorrow through community giving in
four areas: financial security, vibrant planet, connected
communities and better health.
HELP USA and TD Bank will be
participating in a groundbreaking ceremony at the Walter Reed
campus on Friday, May 25, 2018.
About TD Bank:
TD Bank, America's Most Convenient Bank, is one of the 10
largest banks in the U.S., providing more than 9 million customers
with a full range of retail, small business and commercial banking
products and services at more than 1,200 convenient locations
throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas
and Florida. In addition, TD Bank
and its subsidiaries offer customized private banking and wealth
management services through TD Wealth®, and vehicle
financing and dealer commercial services through TD Auto Finance.
TD Bank is headquartered in Cherry Hill,
N.J. To learn more, visit www.tdbank.com. Find TD Bank on
Facebook at www.facebook.com/TDBank and on Twitter at
www.twitter.com/TDBank_US.
TD Bank, America's Most Convenient Bank, is a member of TD Bank
Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services
company in North America. The
Toronto-Dominion Bank trades on the New
York and Toronto stock
exchanges under the ticker symbol "TD". To learn more, visit
www.td.com.
About HELP USA
HELP USA is one of the nation's
largest homeless service providers and low-income housing
developers, serving at risk populations including families,
veterans, and victims of domestic violence. HELP USA currently serves more than 8,000 people
every day at over 50 programs and residences across five states.
Since its founding in 1986, HELP USA has served more than 500,000 men, women,
and children, and developed in excess of 2,500 units of
housing.
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SOURCE TD Bank