TD Bank, provided a $18 million, tax-exempt loan to YMCA of Delaware for the construction of a new facility in Middletown.
The loan supports the construction of a new, 55,000-square-foot facility located at 202 E. Cochran St., with a projected completion date of fall 2023. The new facility will have an indoor aquatics center, expanded health and wellness facilities, a child watch center, youth STEM Room, and Kids Adventure Zone, among other amenities.
The YMCA’s temporary location in Middletown, which has been operating since 2017, currently serves about 1,000 residents. Total project costs are anticipated to be $26 million, funded through the YMCA of Delaware capital campaign and TD Bank loan proceeds.
“Middletown needs and deserves this new YMCA. We are grateful for TD Bank’s partnership, which makes this state-of-the-art YMCA facility in the heart of the MOT (Middletown, Odessa and Townsend) Region possible and will positively impact tens of thousands of community members,” said Linda Risk, YMCA of Delaware chief operating officer.
Founded in 1891, the YMCA of Delaware serves about 90,000 members through its seven branches statewide, a youth resource center in downtown Wilmington, and an overnight camp and conference center in Worton, Maryland.
TD Bank’s Delaware presence includes a credit card unit in Wilmington and 12 stores, including a Middletown location.
TD Bank has more than 1,100 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer private banking and wealth management services through TD Wealth and vehicle financing and dealer commercial services through TD Auto Finance.
TD Bank is headquartered in Cherry Hill, N.J.and is part of the Canada-based bank.
