The Washington Housing Conservancy (WHC) in Northwest has received a $1 million grant from the 2023 TD Ready Challenge presented by TD Bank Group.
The grant will be used by the WHC to advance its mission to reinvent the housing system into a more equitable pathway to opportunity for all District residents and provide a blueprint addressing housing affordability.
Since its launch five years ago, WHC has served 2,793 residents by acquiring five properties in the path of development that threatens displacement.
“The honor of a TD Ready Challenge grant lets us expand our work to help prevent displacement, and increase the affordable housing supply, and work to relieve the rent burdens that make it so difficult for low-and moderate-income Americans to save and build wealth for their future,” said WHC Executive Director Kimberly Driggins. “We’re thrilled that this grant will also help us bring our innovative financial and social impact model to more cities facing the same challenges.”
Hugh Allen, TD Bank’s head of U.S. Commercial Real Estate and Regional (Mid-South Metro) president, noted the importance of working to address the affordable housing challenges many District residents currently face.
“There is an urgent need for affordable housing in the D.C. area and we are honored to work alongside the Washington Housing Conservancy to help create affordable housing solutions for our community.”