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WSFS CARES Foundation Contributes $150,000 to Expand Affordable Housing Access
WILMINGTON, Del.--(BUSINESS WIRE)-- The WSFS CARES Foundation, the charitable giving arm of WSFS Financial Corporation (Nasdaq: WSFS), announced it will
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[{"type":"text","content":" WILMINGTON, Del.--(BUSINESS WIRE)--\nThe WSFS CARES Foundation, the charitable giving arm of WSFS Financial Corporation (Nasdaq: WSFS), announced it will contribute a $150,000 grant to the Todmorden Foundation to expand affordable housing opportunities in Wilmington, Delaware.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251105599384/en/The Flats in Wilmington, Del. will be home to over 1,000 residents.\nThe Todmorden Foundation is a nonprofit committed to providing access to affordable rental housing and enhancing the quality of life for Wilmington residents. The foundation manages several hundred affordable rental properties and is actively upgrading the residences on the west side of the city known as “The Flats.”\n\n\nThe Flats neighborhood consists of more than 450 housing units originally built between 1903 and 1918 by William P. Bancroft to house Bancroft Mills workers. Due to deteriorating conditions, the Todmorden Foundation, founded by Bancroft, is overseeing a redevelopment project to demolish and rebuild these units.\n\n\nThe WSFS CARES Foundation grant, distributed over three years, will directly support the construction of 30 units expected to open in summer 2027.\n\n\n“The WSFS CARES Foundation is dedicated to fostering affordable, healthy communities for families to live in,” said Patrick J. Ward, Executive Vice President, Senior Advisor at WSFS Bank and Chairman of the WSFS CARES Foundation. “We have supported this critically important project since the beginning and take pride in staying true to our commitment to the city of Wilmington.”\n\n\n\"We are grateful for supporters like the WSFS CARES Foundation who have backed our efforts since we began in 2015,” said Richard Przywara, President and CEO of the Todmorden Foundation. “Not only will this project help low- and moderate-income individuals and families, but it will also create jobs in construction, maintenance, and property management.”\n\n\nThis is the sixth phase of the project, offering 180 new residences serving approximately 300 individuals. In total, The Flats will be home to over 1,000 residents.\n\n\nAbout the WSFS CARES Foundation\nThe WSFS CARES Foundation brings WSFS’ mission of We Stand for Service® to life across the communities we serve. The mission of the WSFS CARES Foundati...