iStock photo / File

The Community Builders, a national nonprofit developer of affordable and supportive housing, now has $1 million courtesy of TD Bank’s international parent company to scale up its Home Room housing instability pilot program.

The program is aimed at solving people’s chronic housing instability in Boston and New Haven, Connecticut by building permanently affordable, supportive family housing that comes with wrap-around financial and social services through TCB’s Community Life program.

“It is an honor to be part of the TD Ready Challenge, as we advance The Community Builders’ mission to build and sustain strong communities where all people can thrive,” Elizabeth Gonzalez Suarez, TCB vice president of Community Life, said in a statement. “With TCB Community Life, Home Room provides housing stability for today and economic mobility for tomorrow. Community Life coaches, trusted by our residents, work to remove barriers to housing stability and economic opportunity for all.”

The $1 million grant announced Wednesday builds on a smaller TD grant in 2022. Within the first 12 months, TCB said in its announcement, 85 percent of residents had an escrow savings account averaging $5,000; 79 percent of children ages three to five were enrolled in good preschools; and 77 percent of participants improved their credit score by an average of 26 points.

“TCB’s proposed plan, value for money, well-positioned team, execution of their plan and impressive impact on community members all played a key role in TD’s decision making for the 2023 TD Ready Challenge” grant-making program, the bank said in a statement.

“Safe and affordable housing is paramount to one’s overall stability – it is linked to all aspects of our lives, from our health outcomes to our financial security. Here at TD, we want to be a part of helping communities to prosper in ways that can lead to sustainable economic growth,” Sheryl McQuade, TD’s New England metro regional president, said in a statement. “The TD Ready Challenge grant program is dedicated to helping to build a more equitable world and the great work that The Community Builders are doing is making an impact for those who need it most.”