67 Making a Neighborhood

When it comes to tackling one of America’s most widespread problems – affordable housing – a community development corporation in Chelsea, Mass., has a clear vision: Great neighborhoods empower people to grow and prosper.

Since 1979, The Neighborhood Developers (TND) has been creating great neighborhoods by revitalizing distressed areas of this city and engaging community members in the cause.

Housing for Everyone

Using funding provided by the TD Charitable Foundation in 2012, the not-for-profit will rehabilitate an historic American Legion hall, built in 1933, into nine units of permanent housing for individuals, primarily veterans, who are moving out of homelessness. There is a demonstrated need for housing for homeless veterans in Chelsea. The project will commence construction in 2013, with full occupancy expected in October 2014.

TND is one of 25 organizations awarded $2.5 million in grants last year from the TD Charitable Foundation for transitional housing and homeless shelter initiatives through the seventh annual Housing for Everyone grant competition. It is the TD Charitable Foundation’s signature program to bolster affordable housing efforts in communities we serve.

Affording housing is the starting point

Organizations like The Neighborhood Developers understand that a great neighborhood is the sum of its parts. Broad community development strategies are needed to achieve meaningful revitalization; building affordable homes is a starting point.

“We take a three-pronged approach to create great places to live, work and raise a family,” said George Reuter, communications manager for The Neighborhood Developers. “Besides affordable housing, we help low-income people improve their financial literacy, which is so integral to increasing family prosperity, and our Community Engagement Program opens up opportunities for neighbors to meet and work together.”

Long-term investment

As a proud partner, the TD Charitable Foundation, the charitable giving arm of TD Bank, has contributed nearly $200,000 to The Neighborhood Developers since 2006, demonstrating our long-term relationship and sustained investment in their work. In addition to these initiatives, our funding has enabled:

• Training for their employees;

• Energy-efficiency improvements at 55 units in their affordable housing portfolio;

• The development of Highland Terrace, a 32-unit multi-family project for extremely low-income households; and

• Delivery of financial education and credit counsel- ing classes, free tax preparation services and financial literacy coaching.

Added George, “TD has supported us on all these different levels, and this has been very critical to our community development efforts.”

Strengthen Our Communities

Making a Neighborhood

TD 2012 Corporate Responsibility Report