Posted on: Tuesday, April 30, 2024 Posted by: Metroland Staff, Newmarket Era, Original Article
The Housing for All Land Trust will operate as an independent non-profit organization, working to obtain land to develop accessible and affordable housing for the community.
Blue Door is getting a little extra money for its Housing for All Land Trust. The organization has been selected as one of 10 recipients for the 2023 TD Ready Challenge grant presented by TD Bank Group.
Created in January, the Housing for All Land Trust will operate as an independent non-profit organization, working to obtain land to develop accessible and affordable housing for the community. The land trust will engage with community members, developers, and municipalities to acquire and manage property indefinitely.
The $1-million TD Ready Challenge grant supports organizations bringing forward innovative solutions to help build a more inclusive and sustainable future. Blue Door will use the grant to fund the land trust and a new pilot program called Dwell.
“In these challenging times where the cost of housing and living continues to grow, Blue Door has worked to create innovative solutions to create affordable housing. With the addition of our Housing for All Land Trust and our Dwell program, we are creating equitable and affordable housing for our most vulnerable,” said Michael Braithwaite, CEO of Blue Door. “The TD Ready Challenge grant will help to make these programs a reality, and in turn create housing in our community for those most in need now and well into the future.”
The Dwell program will launch as a three-year pilot in 2024, and work to help subsidize a percentage of the rent for individuals living in affordable housing facilities. The subsidized portion of the rent will act as savings for an individual, with a donor matching the saved amount once the individual decides to move out. This will help individuals in the Dwell program to develop savings over time as opposed to living paycheque to paycheque.
“The TD Ready Challenge is one of the key ways we are delivering on the bank’s purpose to help enrich the lives of our customers’ communities, and colleagues, and a prime example of our commitment to help people thrive in a rapidly changing world,” said Alicia Rose, AVP of Social Impact at TD. “We are very proud that this year we’re able to help enable Blue Door scale their efforts to contribute to much-needed access to stable and affordable housing for members of our communities that are facing barriers.”