Everyone deserves a safe and affordable place to live but with the current nationwide housing crisis, there are fewer options available.
Local Initiatives Support Corporation (LISC) Philadelphia is aiming to help change that in the city with its Non-profit Preservation Initiative, which aims to fund non-profit building owners and developers to preserve and protect publicly assisted affordable rental housing units in Philadelphia neighborhoods.
This initiative also includes working with residents and community organizations to create communities where people can live, work, visit, play and raise families, according to Andrew Frishkoff, Executive Director of LISC Philadelphia.
Learn more about the great work LISC and TD are doing together through the video below.
The program's goal is to help preserve 1,500 units of affordable housing in the next two years. Last year, the TD Social Impact Investment Council announced its contribution of $2.5 million over two years for the initiative to assist LISC's work.
“TD was the first to say yes, we are fully behind supporting this issue, and their support has been huge even in year one," Andrew said.
"TD has roots in metro Philadelphia and with that comes the responsibility to serve all communities here," said Rob Curley, Regional President, Metro Pennsylvania, and New Jersey for TD Bank. "By making tangible increases in resources and economic opportunities in Philadelphia, diverse and underserved individuals and families can realize their full potential and have the same financial security as their neighbors."
Andrew noted in the first year, the initiative has worked with nine non-profit organizations to preserve 712 units of affordable housing, exceeding LISC's own expectations. The organization has also provided workforce training.