TD Bank Builds New Store at University Crossings in Chester; Chester To Get First New Bank in 15 Years

Chester residents and businesses will receive unparalleled level of service and convenience

Aug 25, 2009, 14:05 ET from TD Bank

CHESTER, Pa., Aug. 25 /PRNewswire/ -- TD Bank, America's Most Convenient Bank(R), announces the construction a new retail location on Providence Avenue and 15th Street at University Crossings in Chester, Pa. The new bank is the first to open in Chester in 15 years.

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TD Bank's new store supports the reemergence of Chester's vital retail and banking community. The bank is the latest tenant of University Crossings, a $50 million economic revitalization initiative of Widener University and Crozer-Chester Medical Center. Currently, University Crossings includes a 57-unit apartment complex, the 60-room Best Western Widener Hotel & Suites, a 7-Eleven convenience store, and a Chester Police Department substation.

"TD Bank is excited to be part of the economic revitalization of the City of Chester," said Tom Shoemaker, market president, TD Bank. "We look forward to playing a larger role in the Chester community, and providing those who live and work here with an unparalleled banking experience and convenient and hassle-free products and services."

Scheduled to open with a free, public celebration within the next several months, the new TD Bank store will provide commercial and retail customers with an inviting environment, friendly employees, and award-winning service and convenience. TD Bank emphasizes local lenders making local loans, and customers will have access to a full range of products and services, seven days a week with extended hours.

The new store at University Crossings will require approximately 20 full- and part-time employees, and TD Bank will work with the city to identify potential employees through city job fairs.

Chester Mayor Wendell N. Butler Jr. said the bank was another "economic vote of confidence" for the city in a line of successes, including Harrah's Chester Casino, the Wharf at Rivertown, and the new soccer stadium.

"We are a city on the move. This is a very exciting time to be in Chester," Butler said. "We welcome TD Bank to Pennsylvania's first city and we look forward to working with them to build a stronger city."

Widener University President James T. Harris III comments, "University Crossings is emerging as a major hub of activity in Chester. This is possible because we have all worked together -- Widener, Crozer-Chester Medical Center, the city of Chester, and businesses such as TD Bank and Best Western."

"The opening of this TD Bank branch is another positive step for Chester and University Crossings. We are proud to be part of the ongoing collaborative effort to enhance the communities we serve," added Joan K. Richards, president and chief executive officer of Crozer-Keystone Health System.

"When other businesses see a financial institution such as TD Bank investing in Chester, they will be more likely to make a commitment to the city also," said Ahsan Nasratullah, chief executive officer of Teres Holdings, LLC, which is developing University Crossings. "The bank symbolizes one of the final steps in the completion of phase one of University Crossings. We believe this will provide a springboard for phase two of University Crossings and will help spur further economic development in Chester."

The land being developed for University Crossings, which was previously tax exempt as part of the university, has been added to the Chester tax rolls. Over the next 10 years, University Crossings will generate an estimated $1.8 million in real estate tax revenue to the city and the Chester Upland School District, more than $800,000 in earned income tax revenues from the new jobs created, and $600,000 in business privilege taxes. It is estimated that University Crossings, once it is completed, will have a $1 million per year economic impact on the city of Chester.

For more information on University Crossings, visit For apartment rental inquiry and retail/commercial space inquiry, call 215-850-4453.

About TD Bank

Following TD Bank Financial Group's acquisition of Commerce Bancorp Inc. on March 31, 2008, TD Banknorth and Commerce Bank merged on May 31, 2008, to become TD Bank, America's Most Convenient Bank. Today, TD Banknorth and TD Bank form one of the 15 largest commercial banks in the United States with $126 billion in assets, and provide customers with a full range of financial products and services at more than 1,000 convenient locations from Maine to Florida. TD Bank, N.A., is headquartered in Cherry Hill, N.J., and Portland, Maine. TD Banknorth and TD Bank are trade names of TD Bank, N.A. For more information, visit and

TD Banknorth and TD Bank, America's Most Convenient Bank, are members of TD Bank Financial Group of Toronto, Canada, a top 10 financial services company in North America and one of just three triple-AAA-rated banks on the New York Stock Exchange.

About Widener University

Widener University is a private, metropolitan university that connects curricula to social issues through civic engagement. Dynamic teaching, active scholarship, personal attention, and experiential learning are key components of the Widener experience. A comprehensive doctorate-granting university, Widener is comprised of eight schools and colleges that offer liberal arts and sciences, professional and pre-professional curricula leading to associate's, baccalaureate, master's and doctoral degrees. The university's campuses in Chester, Exton, and Harrisburg, Pa., and Wilmington, Del., serve some 6,700 students. Visit the university Web site,

About Crozer-Keystone Health System

Crozer-Keystone Health System is the largest employer and health care provider in Delaware County, Pa. Crozer-Keystone provides a full spectrum of wellness, prevention, acute care, rehabilitation and restorative care to the community. The health system comprises five hospitals, a comprehensive physician network of primary-care and specialty practices, and the Healthplex(R) Sports Club. For more information about Crozer-Keystone Health System, visit