$50 Million Mixed-Use Project Underway in Chester, PA

Construction has begun on a $50 million retail and residential project in Chester, Pennsylvania. The project is based on a revitalization plan TRF created for Widener University and Crozer Chester Health Center designed to stimulate creative and sustainable redevelopment in their surrounding neighborhood. TRF helped Crozer-Widener identify a suitable developer and provided financing for the project. Partnering with Sovereign Bank, TRF provided over $19 million in financing through TRF’s New Markets Tax Credit program towards the first of a two-phase project. The project will include a restaurant, a bank, a coffeehouse and convenience store, a Chester police substation, 60 apartment units and a 48-room hotel.



Supporting Philadelphia's School Lunch Program

TRF recently completed a study for the School District of Philadelphia to estimate the percentage of students who are income-eligible for free or reduced-price lunches. Philadelphia’s School District is the only district in the country that offers universal feeding, giving all children in selected schools a free meal without requiring an application. Universal feeding reduces a school's administrative burden, reduces the social stigma of receiving free lunch and maximizes the number of children who receive a well-balanced meal. TRF’s study will help the District identify schools for universal feeding. Since the program began in Philadelphia in the early 1990s, an entire generation of students have benefited from free meals without the burden of an application process. Following the initiative’s success in Philadelphia, other major cities are exploring opportunities with TRF for similar studies in their school districts. Learn more...

A new Service from TRF
In the next few weeks, TRF will be launching a new web-enabled data and mapping tool. PolicyMap will offer public and private data sets as well as custom TRF analytics on a variety of issues ranging from real estate to energy.
Register now to be among the first to know when the service launches.


TRF's Charter School Lending Portfolio Exceeds $120 million

It has been a busy time for TRF's charter school lending program as activity in the last three months boosted the portfolio by over $20 million. Among the projects financed is the newly-chartered Community Charter School of Paterson, New Jersey (CCSP). CCSP was founded by New Jersey Community Development Corporation, which has strong experience with education ranging from child care to alternative high schools. With more than $8 million in NMTC financing from TRF, the school will renovate a 33,100 square foot former industrial building to be its new home. The new facility will accommodate 500 students, with 30 classrooms, a multipurpose room and a circular glass media center serving as the school’s entry focal point. TRF also recently provided $4.5 million in financing to renovate the Antonia Pantoja Community Charter School's new facility. TRF's loan included $1 million for high-performance energy measures roofing, insulation, lighting, air conditioning, windows and water heaters) that met TRF’s energy standards and qualified for financing at a lower interest rate.


TRF's Graciela Cavicchia part of AIA team to help New Orleans

TRF's Graciela Cavicchia is part of a professional team from the American Institute of Architects (AIA) that is helping to rebuild a major commercial corridor in New Orleans. The project is centered around the South Claiborne Avenue commercial corridor, which suffered catastrophic flooding after Hurricane Katrina in 2005. The corridor runs from Jefferson Parish to downtown New Orleans. A trained architect, Ms. Cavicchia's expertise in urban planning and project implementation is in particular demand in this situation where there is growing frustration about the need to get things done after two years engaged in multiple planning processes. Ms. Cavicchia and her team will be helping to prioritize the implementation process, identifying the best investment opportunities to go after first and leverage to build momentum for the recovery process. Ms. Cavicchia's work is part of the AIA's Sustainable Design Assessment Team program, a community assistance program that bring teams of volunteer professionals (such as architects, urban designers, planners, hydrologists, economists, attorneys, and others) to work with community decision-makers and stakeholders to help them develop a vision and framework for a sustainable future. Ms. Cavicchia is Director of TRF's Neighborhood Development Services.

More than 830 investors provide the capital that makes TRF's work possible.
Click here to learn more about investing in TRF.

 

Comments or feedback on our newsletter? Email us at TRFNews@trfund.com.