TD Bank Finances Renovation of Affordable Housing for Senior Citizens in South Florida

Stock photography of senior housing

August 27, 2019 - Small Business & Commercial Florida

Deerfield Beach Housing Authority & Smith and Henzy Advisory Group to revitalize affordable apartments for seniors

TD Bank, America’s Most Convenient Bank®, announced its commitment to finance Deerfield Beach Housing Authority and Smith and Henzy Advisory Group's renovation of the Palms of Deerfield Apartments, a public housing community in South Florida for individuals over 62 years old. Deerfield Beach Housing Authority provides quality, affordable housing with education and social services, and Smith and Henzy Advisory Group helps clients build affordable housing developments in Florida.

The bank has provided a $9 million construction loan through its Commercial Real Estate Group. The funds will aid in the renovation of a four-story, 100-unit midrise building with one bedroom and efficiency units, in Deerfield Beach, Florida. The development will also include secured entries, patrolled grounds, laundry facilities, on-site staff and maintenance and a large community room. The community is conveniently located within close proximity to grocery stores, public transportation and retailers. Deerfield Beach Housing Authority will provide social services, social security education, health fairs and transportation to healthcare facilities and more.

“The renovation of the apartment building addresses the need for quality, affordable homes for senior citizens,” said Nathan Perlmutter, Vice President, Commercial Real Estate at TD Bank. “TD Bank is proud to fund a project that will provide affordable housing to support the needs of senior citizens in Florida communities.”

“Everyone deserves an affordable and safe place to call home,” said, Anthony Pelt, Broad Chairman, Deerfield Beach Housing Authority. “The Palms of Deerfield will be modern, affordable apartments with quality recreational space for more than 100 senior citizens in our community.”

“TD Bank has been a financial provider for our organization for a few years. The bank has supported our mission to work with non-profit institutions and private developers focused on affordable housing projects,” said Darren Smith, Principal of Smith and Henzy Advisory Group. “This renovation will support local residents by creating construction jobs and enhancing economic growth in the area.”

TD Bank creates strong relationships with customers by understanding their industry and their business.

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.

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