TD Bank Provides $125,000 Grant For Affordable Housing

NEW PORT RICHEY, FL -- At a time when more families are struggling with homelessness and there are fewer funds available to help them, one New Port Richey nonprofit found a friend in TD Bank.

The TD Charitable Foundation has awarded Youth and Family Alternatives Inc. of New Port Richey a $125,000 grant to maintain and expand affordable housing in the community.

With its grant, Youth and Family Alternatives Inc. plans to provide safe, stable, affordable and sustainable housing and support services by constructing a 56-unit apartment complex on Plathe Road across the street from its headquarters, called the Commons of Speer Village.

The affordable housing complex is named for early West Pasco developer Roy M. Speer who went on to co-found the Home Shopping Network with media executive Lowell "Bud" Paxson.

The Speer Foundation provided the seed money for the project, which combined with $1.5 million in state funding, allowed the nonprofit to purchase property, design the building and begin site development.

The first six units will provide housing for people with developmental disabilities.The second phase will contain some 50 units with one to three bedrooms. Rents will be based on the family's ability to pay.

Youth and Family Alternatives was among 25 nonprofits across the country to receive a "Housing for Everyone" grant this year through the the TD Charitable Foundation's annual competition.

In all, the foundation awarded 3.125 million in grants to nonprofit in Maine, Connecticut, New York, Vermont, Massachusetts, Pennsylvania, New Jersey, Washington, D.C., South Carolina, New Hampshire, Rhode Island and Florida to expand access to affordable housing.

“TD is honored to fund these organizations’ projects which will help to increase financial wellness to families and individuals across our footprint," said Lisa Gruner, head of the TD Charitable Foundation.

Since 2006, the TD Charitable Foundation has awarded more than $25 million in grants through this competition.

Images via Youth and Family Alternatives

TD Bank representatives receive an overview of the Commons of Speer Village project.

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