2023 Impact Report

CEO UPDATE

Dear friend,

This has been a year of opportunity and impact for The Community Builders, with new affordable housing developed and managed, transformational resident initiatives, and award-winning neighborhood investments across the 30 great American cities where we work.

TCB welcomed more than 670 families to new homes this year, advancing our mission at historic lofts in Charlotte, midrise apartments in Cleveland, workforce cottages on Martha’s Vineyard and more new communities across our five regions. These new families join a TCB portfolio of over 14,000 apartments that more than 25,000 residents call home.

Award-winning TCB Community Life resident initiatives are advancing equity and opportunity for children, adults and seniors. With donor support, TCB residents are opening new doors to health, wealth and opportunity. I am honored to share the best of our work in 2023 and introduce you to a few of the people whose lives have been transformed by TCB.

Thank you,

Bart Mitchell | President and CEO

WELCOME HOME

25,000+ CHILDREN, ADULTS, AND SENIORS CALL A TCB COMMUNITY HOME.

RESIDENT SPOTLIGHT

Jennifer Foster, Champion Resident

TCB resident Jennifer Foster is making house calls to improve the health of her community. She is employed as a Health Champion in a maternal and child health initiative called Avondale Children Thrive. Trained in best practices for safe infant sleep, breastfeeding, early education and client confidentiality, Jennifer provides in-home coaching to new and expectant mothers in Cincinnati with the aim to reduce infant mortality and improve the health of the neighborhood’s youngest residents.

PARTNER SPOTLIGHT

Fannie Mae
Sustainable Communities

Fannie Mae selected TCB’s From Our Doors to Yours resident initiative as a $1 million winner of the 2022 Sustainable Communities Innovation Challenge, a contract competition to advance fair homeownership opportunity. TCB Community Life coaches in Chicago, Detroit, and Richmond are opening a new door to the American Dream by connecting residents with resources to achieve higher credit scores, build earned savings and receive down payment assistance.

RESIDENT SUCCESS

WE PLACE RESIDENT SUCCESS AT THE CENTER OF OUR WORK.

Households with

rent reporting for

credit building have

improved credit scores

Children ages 3 to 5

enrolled in preschools

Families at risk of eviction

remained stably housed

with coaching

Residents established

new credit scores

through rent reporting

for credit building

HOUSING IMPACT

WE OWN AND MANAGE 14,000+ HOMES, INCLUDING THESE 671 NEW AND RENEWED HOMES.

Located in Jackson Square within the diverse neighborhood of Jamaica Plain, 250 Centre features 110 mixed-income homes for families and 1,550 square feet of retail space. LEED silver certified, the apartment community offers two lounges including a sixth-floor terrace, co-working spaces and a 24-hour fitness facility. Residents enjoy access to a bike path, shopping and dining, and public transportation. EV charging stations and bicycle storage underscores a commitment to eco-friendly living.

250 CENTRE, BOSTON, MA

Nestled in Mt. Lebanon, Pittsburgh, Castlegate Green offers families 51 modern apartments and townhomes. Embracing the Agrihood concept, green amenities include private outdoor spaces, community garden plots, a greenhouse and large community space equipped with a full kitchen and outdoor patio for farm-to table-activities. Inspired by Biophilic design, the property features landscaping that provides both visual beauty and an opportunity for residents to cultivate fresh produce. Castlegate Green is more than a residence; it's a vibrant community harmonizing with nature.

CASTLEGATE GREEN, MT LEBANON, PA

NoDa Wandry is a testament to industrial modernism in Charlotte's vibrant NoDa neighborhood. A combination of a former historic mill building and a new construction midrise, NoDa Wandry contains 235 mixed-income homes. Each residence exudes urban charm, with community amenities that include a resort-style pool, direct light-rail access, EV charging stations, a fitness center, and on-site retail. The mixed-use development is steps away from Charlotte's dynamic NoDa arts and entertainment district.

NODA WANDRY, CHARLOTTE, NC

Building 104, located in Boston’s Charlestown Navy Yard, features 46 one-bedroom apartments for older adults. Originally built in 1901, this historic property underwent a transformative renovation in the early 1990s, converting a former shipfitter’s shop into a senior housing gem. TCB plans further updates In 2024. These improvements will include refreshed kitchens and bathrooms, as well as renewed building systems and common areas.

BUILDING 104, CHARLESTOWN, MA

Residents at Woodhill Station West, located in Cleveland's Buckeye neighborhood, enjoy amenities including a picnic area, beautiful landscaping, playground, fitness center and community room, offering opportunities for social gathering. The first phase of the Woodhill-Buckeye Choice Neighborhood transformation, the development features 120 affordable homes for families, 4,500 square feet of community space and a stellar location across from a Regional Transportation Authority (RTA) station.

WOODHILL STATION WEST, CLEVELAND, OH

The Community Builders expanded its property management portfolio to include a collection of family housing communities on Cape Cod and Martha’s Vineyard in Massachusetts. Anchored in areas driven by seasonal hospitality and tourism, these nine workforce communities offer vital year-round housing stability for 116 working families. Addressing the pressing challenge of housing affordability in peak seasons, particularly for restaurant and hotel staff, landscapers, and fishermen, these additions play a crucial role in easing the housing crunch in seasonal communities.

CAPE COD & MARTHA'S VINEYARD PORTFOLIO

NEIGHBORHOOD IMPACT

WE EXPAND ACCESS TO HEALTH CARE AND HEALTHY FOODS WITH NEIGHBORHOOD INVESTMENTS THROUGHOUT OUR REGIONS.

Shop Fair Supermarket,
The Bronx, New York

Located on the ground floor of TCB’s Park Haven Apartments in New York City, Shop Fair Supermarket opened in 2023 with a fresh selection, cultural favorites and affordable prices. The vibrant 11,000 square foot store serves TCB residents and the diverse Mott Hill neighborhood.

With a portfolio of over 500,000 square feet of neighborhood commercial real estate, TCB is building stronger neighborhoods through affordable commercial leases and direct assistance to small and minority-owned businesses.

The University of Cincinnati Medical Center

Funded by our allocation of New Markets Tax Credits, the University of Cincinnati Medical Center emergency department has undergone an expansion and renovation aimed at enhancing health outcomes in a community that hundreds of TCB residents call home. Completed in 2023, the new department boosts capacity and efficiency, offering behavioral health rooms, nursing stations and improved access to care. This investment in pediatric health is the latest in our series of New Markets Tax Credit allocations that total more than $250 million.

HOUSING AWARDS

2023 Advisory Council Historic Preservation/HUD
Secretary’s Award for Excellence

Commodore Place Apartments

Cleveland, Ohio
Historic Preservation

2023 Journal of Tax Credits Award
Development of Distinction

Church Hill Phase 2B

Richmond, Virginia
Metropolitan Community Impact

Gertrude S. Carraway
Award of Merit

NoDa Wandry

Charlotte, NC
Historic Preservation

FINANCIALS

Total Net Assets

2022 Net Assets: $41.9 MM

2022 Operating Expenses

BOARD OF DIRECTORS

Louis Mercedes (Chair)

Audra Bohannon

Andrew Clark

Brian L.P. Fallon

Carol Galante

Richard High

Kim Michelle Janey

Bernita Johnson Gabriel

David Johnson

Benjamin Jullien

Patrick Nash

Robin Powell Mandjes

James Riccio

Mia Roberts

Jeffrey Sanchez

Amy Schectman

Adam Troy

Jay Walder

Monica Warren-Jones

Malcolm Williams

Kamillah Wood

DONORS

*As of November 2023

THANK YOU TO OUR DONORS. PLEASE CONTACT US WITH QUESTIONS ABOUT DONOR RECOGNITION.

$100,000+

Chicago Department of Family & Support Services
Eastern Bank Foundation
Fannie Mae Foundation
Lowe's
The BUILD Health Challenge
U.S. Department of Treasury

$25,000 - $99,999

City of Baltimore
City of Worcester (CDBG)
Cohn Reznick
Community Foundation for a Greater Richmond
Hampton Roads Community Foundation
JP Morgan Chase
Ohio Capital Corporation for Housing
Roy Hunt Foundation
The CarMax Foundation

$10,000 - $24,999

AGM Financial Services, Inc.
Applegate & Thorne-Thomsen, P.C.
Beth Mullen
Boston Financial Investment Management
Cincinnati Children's Hospital Medical Center
Cranshaw Construction
Klein Hornig LLP
Marous Brothers Construction
Marsh USA, Inc.
Marsh, Moriarty, Ontell, and Golder
Mega Contracting
Mintz Levin Cohn Ferris Glovsky and Popeo, PC
Norfolk Southern Corporation
Northwestern Medicine
Red Stone Equity Partners LLC
Rockport Mortgage Corporation
Stratford Capital Group

$5,000 - $9,999

Amenta Emma Architects
Baker Tilly
Bank of America Merrill Lynch
BNY Mellon
Bob Green
Consigli Construction
DBVW Architects
Dorfman Capital
EMBARC
GEI Consultants, Inc.
Keith Construction
Konica Minolta Business Solutions
Langan
Lisa Wilcox-Erhardt and Steven Erhardt
MassHousing
Merchants Capital
Plumb House, Inc.
Raymond James Affordable Housing Investments
RBC Capital Markets
Rockland Trust Bank
Santander Bank
Shawmut Construction
The Community Preservation Corporation
The Davis Companies
U.W. Marx
Urban Architectural Initiatives

$1,500 - $4,999

AEGON USA Realty Advisors, LLC
Beacon Hill Hospitality
Beverly Bates and Christine Connors
BlueHub Capital
Bozzuto Construction Company
Buchanan Ingersoll & Rooney PC
C.T. Male Associates
Cannon Heyman & Weiss
Citizens Bank
Core Communications
Damien Raffle
David Jones and Sarah Niemcqycki
Downing VanDyke
Esusu
Gilmartin Magence LLP
Goulston & Storrs
Harkins Builders, Inc.
Hartford Fire Insurance Company
HD Supply
ICON Architecture
Jason Ward
Jay Walder
Lacey Sorensen
Marcum LLP
MDG Construction
Morgan and Kristin Wilson
Needham Bank
Nolan Sheehan Patten LLP
Novogradac & Company LLP
Patricia Belden
Patrick Nash
Pine Street Inn
RDL Architects
Regions Affordable Housing
RiverHills Bank
Skender Construction
Specialty Consultants Inc.
Stephanie Garrett-Stearns and William Stearns
The Architectural Team
Walter Haverfield LLP
Waypoint KLA

$500 - $1,499

Alison Gant
Bart Mitchell and Susan Siebert
City of Aurora, IL
Dave Roecker
Davis Square Architects, Inc.
Edward H. Marchant and Catherine Marchant
Elizabeth Gonzalez Suarez
Fiona Horning
Gary Kane
James A. Riccio
John Moriarty & Associates
Jullie and Michael Patterson
Karen Wiener
Leah Van Tassel
Linda Torres
McPhail Associates, LLC
Metro Housing Boston
National Center for Housing Management
Nicole Fuquay
Patrick Cormer
Peter Marx
Proverb LLC
Rose Mabwa
Royston Delaney
Scott Mandeville
The Strategy Group
Thomas Joyce

$250 - $499

AKRF, Inc.
Anthony Akindele
Cesira Newcomb
Dane Adams
Iric Rex
Jacqueline West-Spencer
Jeff Heisler
Jeffrey and Sara Beam
Jesse Batus
Joan Burns
Mary Kay Leonard
Melissa Sue Guertin
Mike Gilligan
Nidhi John
Peter Munkenbeck
Phillip Clay
Point32Health
Robert Portman and Annette Simon
Robin Powell Mandjes
Umbro & Sons Construction Corporation

$100 - $249

Alma Balonon-Rosen
Andy Waxman
Anne Vinick
Donald Vaughan, Esq.
Doug Brown
Drew Bartley
Ethan Ceplikas
Frank Holmes
Greg Watson
Gregory Maher
Heidi Brooks
Hilary Holmes
Jan Griffin
Jeanette Ackermann
Jesse Elton
Jim P. Maynard
Joe Giggey
Jonathan Keyes
Jonathan Klein
Larry MacDonald
Lauren Burrows
Malik Aziz
Mark S. Fowles
Mary Thompson
Matthew P. Martin
Meghan Kaple
Mia Roberts
Micah O'Neil
Michael Nilles
Nina Ann Schwarzschild
Patricia Duarte
Peter Lubershane
Peter Quintiliani
Rachana Crowley
Rebeca Nystrom
Renata von Tscharner
Ryan Hurd
Sandi W. Silk
Scott M. Arrighi
Steve Lodi
Tom Buonopane
Yoko Tai

$1 - $99

Alexa Ducote
Allison Collins
Angela Swanson
Anne Moriarty
Arman Chowdhury
Barbara Vinick
Carrie Tennant
Cindy Lovett
Elvis Lopez
Hamilton Anderson Associates
Janel Mortell
Juliana Madden
Laura Kremmel
Laura Martin
Mark Farlow
Patryk Jakubowski
Riddhi Shah
Russell Tanner
Ryan Hoffman