CHERRY HILL, N.J., Nov. 7, 2018 /PRNewswire/ -- TD Bank,
America's Most Convenient Bank®, announced its
commitment to finance Phase II of Valley Brook Village, a
development that will create 50 additional units of affordable
rental apartments with onsite support services for homeless and
disabled veterans. The bank has provided a $6 million construction loan to the Affordable
Housing and Services Collaborative Inc. and Peabody Properties Inc.
through its Commercial Real Estate Group. The funds will aid the
expansion of the existing 62-unit Valley Brook Village development,
a first of its kind Veterans Affairs Supportive Housing (VASH)
community for homeless Veterans.
Phase II of Valley Brook Village includes the development of a
new three-story building consisting of 50 one-bedroom apartments,
which will be situated around a common green to complement the
existing village-style community. The development which is being
built by development partner, Windover Construction Inc., will
provide permanent housing for homeless and at-risk Veterans of all
ages and branches of the military. In addition, an array of
supportive services and amenities designed to assist veterans in
meeting their personal and career goals will be provided by
Community Hope under the coordination of Peabody Resident Services,
Inc.
"At TD Bank, we celebrate the dedication of all military
personnel for their commitment to our country," said Thomas McColgan, Vice President at TD Bank. "We
are focused on projects and resource groups geared towards our
Veterans, so that they can be part of a supportive community that
will enable them to attain their goals and continue to live
meaningful lives after military service."
Building on the success of Phase I, the development will be
accessible to nearby health care services and public
transportation. Residents will have access to a shuttle service,
landscaped walkways, shared outdoor spaces and a state-of-the art
learning center. The development will also include space for onsite
case management, education and employment services.
"TD Bank has been instrumental in supporting our effort to
provide affordable housing for veterans," said Melissa Fish-Crane, Principal & Chief
Operating Officer, Peabody Properties Inc. "This project will build
on the success of Phase I, helping to not only expand the
close-knit Valley Brook community, but also create a supportive
environment with comprehensive services so Veterans are empowered
to overcome the many challenges they face after returning home from
service."
Valley Brook Village is built
on land provided through The Department of Veterans Affairs
Enhanced-Use Lease Program (EUL) on the VA New Jersey Health Care
campus in Bernards Township. The
Township also provided funding for the project from its Affordable
Housing Trust Fund. Additional funding was also awarded from the
County of Somerset's Homeless
Trust Fund Program, the VA and several private foundations,
including The Home Depot Foundation.
"This development has been crucial for the veterans who reside
here; a place to call home for those who have served our country,"
said Michael Armstrong, Chief
Executive Officer, Community Hope Inc. "The expansion of Valley
Brook Village will enable us to continue growing this special
community, so that more Veterans can benefit from the services and
camaraderie that we're able to provide."
This project reinforces TD Bank's 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. Construction has started and is expected to be
completed by September 2019.
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.
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SOURCE TD Bank