TD Bank Invests Over $42 Million in Florida Affordable Housing Development

affordable housing

June 17, 2019 - Banking Investing Florida

Blue Sky Communities will develop more affordable housing at the Preserve at Sabal Park

TD Bank, America’s Most Convenient Bank®, announced its commitment to finance Blue Sky Communities' recent development of the Preserve at Sabal Park, a new multi-family affordable housing community in Seffner, Florida. Blue Sky Communities specializes in working with non-profit organizations to help develop new and rehabilitate existing multi-family housing communities.

The bank has provided a $22 million construction loan through its Commercial Real Estate Group and a $20.3 million equity investment through the purchase of Low-Income Housing Tax Credits from TD's Community Capital Group. The funds will be applied towards the initial construction phase, which started in March, for the Preserve at Sabal Park, a 144-unit apartment complex with one-, two- and three-bedroom units. The development includes a pool, clubhouse, high efficiency appliances, a financial literacy program and employment assistance programs. It is conveniently located within proximity to public transportation, grocery stores, office parks and retailers.

“The development of Blue Sky Communities' newest affordable housing community in the Tampa Bay area addresses the need for quality homes for working-class families,” said Kyle Moore, Vice President for TD Bank. “TD is proud to fund a project that will provide affordable housing to support hard working citizens in Florida."

"Everyone deserves an affordable and safe place to call home," said Scott Macdonald, Executive Vice President and Chief Financial Officer of Blue Sky. "This is Blue Sky's first transaction with TD Bank. The Bank’s execution was one of the smoothest and most reasonable Blue Sky has ever experienced. Blue Sky is relationship-driven, and we look forward to this being the first of many transactions with TD Bank."

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

This project reinforces TD Bank’s recent 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.

About TD Bank, America's Most Convenient 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.td.com/us. 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/us.

Media Contact:
Amber Leahy
TD Bank VP, Senior Corporate Communications Manager amber.leahy@td.com
856-505-1169


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