ALBANY, N.Y.—M&T Bank has donated $25,000 to Habitat for Humanity Capital District and an additional $10,000 to the Capital Region Sponsor-A-Scholar to help provide a hardworking, lower-income family with the chance to own their own home and funds to prepare their children for high school graduation and higher education.
The home will be the first of 20 new one- and two-family homes in the Habitat for Humanity Capital District’s transformational community development project, Sheridan Hollow Village. The revitalization project aims to rebuild the city’s Sheridan Hollow neighborhood by creating opportunities for affordable homeownership, quality rental housing, commercial investments, streetscape and public park improvements and enhanced public safety.
“Habitat and M&T Bank share a mission of making homeownership a reality for deserving families,” said Michael T. Keegan, Albany Region president for M&T Bank. “We are excited to play a role in the success of Habitat’s Sheridan Hollow Village, as helping to revitalize the local neighborhood that historically has been in need of additional investment.”
Sitting at the bottom of a ravine, the Hollow—as it’s commonly known—is just blocks from the city’s downtown district, energetic Center Square neighborhood and historic Arbor Hill neighborhood. The neighborhood is largely vacant, with a homeownership rate currently around 19 percent.
“Our sponsors, partners and volunteers are critical to our success,” said Mike Jacobson, Executive Director for Habitat for Humanity. “M&T Bank’s continuous support has enriched our community, helping to ensure that we make affordable homeownership a reality for more hardworking, lower-income families.”
To further support the residents of Sheridan Hollow, M&T Bank donated $10,000 to the Capital Region Sponsor-A-Scholar program for the family of the first home. The donation will cover the cost of enrolling the family’s child in the Sponsor-A-Scholar program, which helps at-risk students flourish academically through support in the form of time, mentors and money.
“This combined $35,000 contribution helps to build an environment for learning, benefitting the child as well as the whole community through higher graduation and college enrollment rates,” said Keegan.
With this gift, M&T Bank has provided a total of $117,500 in support for Habitat for Humanity Capital District since 2001.
The organization plans to hold a ceremonial groundbreaking on Thursday, May 16, 2013 at 11 a.m. on the corner of Dove St. and Sheridan Ave. Construction of the 20 homes is expected to be completed within 12-18 months.
About M&T Bank
Founded in 1856, M&T Bank Corp. is one of the 20 largest U.S. bank holding companies, with more than 725 branch offices and 2,000 ATMs in Maryland, Washington D.C., Virginia, Pennsylvania, New York, West Virginia and Delaware.
About Capital District Habitat for Humanity
Habitat for Humanity Capital District is a non-profit housing partnership dedicated to building simple, decent and affordable homes with lower-income families in need. Habitat for Humanity uses volunteer labor and donations of money and materials to provide affordable homeownership to those people who would not otherwise have that opportunity. Habitat creates systemic social change by giving the economically disenfranchised the tools necessary to break the vicious cycle of working class poverty. Established in 1988, HfHCD is an affiliate of Habitat for Humanity International serving Albany, Rensselaer and Saratoga Counties, NY. To date, HfHCD has built 80 homes. For more information, please visit www.HabitatCD.org.
Habitat for Humanity Capital District:
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