BURLINGTON, Vt. — TD Charitable Foundation, the charitable giving arm of TD Bank, has donated $25,000 to Cathedral Square Corp. The money will be used toward a 38-unit affordable seniors housing community currently in development in Burlington.
Cathedral Square is working in partnership with Braverman Development Co. to build the community as part of Burlington’s vision to centralize its downtown with affordable and market-rate housing, retail, parks and employment.
The project has received other funding commitments from the federal HOME program and the Burlington’s Affordable Housing Trust Fund. Project developers are seeking further funding support from the Vermont Housing and Conservation Board, the Vermont Community Development Program, and federal Housing Tax Credits from Vermont Housing Finance Agency.
Construction is scheduled to begin in June 2017.
Cathedral Square, a nonprofit housing developer based in Burlington, has a waiting list of over 700 seniors.