CHERRY HILL, N.J., Nov. 14, 2016 /PRNewswire/ -- TD Bank, America's Most Convenient Bank®, announced its commitment to finance HELP USA's revitalization of the Spring Garden School, a nearly 100 year old historic building in North Philadelphia. The bank has provided a combined investment of $11.6 million in tax credit equity through the Community Capital Group and a $9 million construction loan through its Commercial Real Estate Group.
The school, which has been vacant for almost 40 years, was built in 1927 and added to the National Register of Historic Places in 1986. Once renovations are complete in late 2017, the building will include 37 units of affordable housing for low-income seniors, 12 units for homeless veterans, a rooftop garden and a soccer field. The building's interior and exterior structure will be restored and some of the graffiti will be preserved. "This is a very important project that will allow low-income seniors and veterans to have a place they can call home," said Gloribel Cruz, Vice President at TD Bank. "Helping to revitalize this building will improve the area and reinforce our commitment to give back to the community. Our investment in making a positive impact is part of what makes TD Bank different."