Providing quality, affordable housing is an important part of a healthy community.
Affordable rental properties in safe and stable areas of Wilmington are the legacy of the forward-thinking industrialist and Quaker merchant William Poole Bancroft. The Todmorden Foundation is the steward of that philanthropic vision – honoring our unique heritage and investing to meet today’s housing needs.
Todmorden Foundation is a non-profit foundation committed to providing affordable rental housing and improving the quality of life in Wilmington, Delaware. The foundation is governed by a Board of Trustees dedicated to the ongoing support of families who need housing.
The Todmorden Foundation oversees many rental properties built by Bancroft, and is renovating and improving housing in the area known as “The Flats.” As many of these homes reach their 100-year anniversary, the foundation celebrates the prospect of continued innovation in quality affordable housing, and reaffirms its commitment to its residents and the community at large. Upon completion of The Flats, Phase V; 326 homes of the planned 453 homes will be completed.
What is Affordable Housing?
Federal guidelines define affordable housing as housing that costs, through rent or mortgage payments, no more than 30 percent of a household’s income. The state of Delaware includes the cost of utilities in that 30 percent calculation.
William Bancroft’s strong sense of social responsibility and philanthropy has had a lasting effect on the City of Wilmington. The Todmorden Foundation is named for Bancroft’s ancestral village in West Yorkshire, England as a way to honor Bancroft’s heritage.
The Todmorden Foundation’s mission is to promote the stabilization of neighborhoods, the prevention of urban blight, and to develop affordable housing within the City of Wilmington.