KeyBank Invests $75,000 in Home Headquarters to Build Safe Housing, Provide Job Opportunities and Economic Equity in Syracuse
SYRACUSE, N.Y., December 22, 2021 /3BL Media/ – KeyBank is investing $75,000 in Syracuse-based nonprofit Home HeadQuarters to support its efforts to provide safe and affordable housing through the work of its construction and maintenance crew Opportunity Headquarters. This transformative grant is part of KeyBank’s $40 billion National Community Benefits Plan and is symbolic of the bank’s longstanding commitment to diversity, equity and inclusion.
“KeyBank’s investment in Home HeadQuarters is a vital investment in our community, our housing and the individuals and families who call Syracuse home,” said Kerry Quaglia, Chief Executive Officer of Home HeadQuarters. “This timely support will help us continue to provide equitable access to new homes for first-time homebuyers and make much needed improvements to existing rental housing in the city.”
“Safe and affordable housing is a crucial and primary part of strong, safe neighborhoods and communities,” said Stephen Fournier, KeyBank Central New York Market President. “All of us at KeyBank are proud to stand behind and support Home HeadQuarters as they continue the transformational work of developing and providing safe housing and opportunities to individuals and families in our area.”
Opportunity Headquarters, a skilled construction and maintenance crew that works on Home HeadQuarters’ (HHQ) property development projects, focuses primarily on new single-family home construction and substantial rehabilitation of formerly vacant and often distressed properties. Recently, Home HeadQuarters undertook efforts to improve the condition of more than 200 units of aging rental housing on Syracuse’s Southside in particularly impoverished neighborhoods. Opportunity Headquarters’ critical repairs and updates to this needed rental housing will improve the quality of life for the primarily low-income, minority families and impact the wellbeing of the neighborhood as well.
A critical component of HHQs’ Opportunity HeadQuarters is the recruitment of crew members from the very low- and moderate-income neighborhoods in which the crew is most active. Opportunity HeadQuarters also provides apprenticeship opportunities for applicants who are interested in learning the construction trades, with an emphasis on recruiting minority and low-income applicants. HHQ has strategically and purposefully increased its hiring of Section 3 employees (low-income persons, especially recipients of government assistance for housing) on its Opportunity HeadQuarters crew over the last year, to both increase capacity and provide economic stimulus through employment and training opportunities to low-income neighborhoods. This apprenticeship program gives lower income residents the skills and work experience they need to secure full-time, living wage employment, whether through an eventual permanent position on Opportunity HeadQuarters’ crew, or with another area contactor.
KeyBank's roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, KeyCorp is one of the nation's largest bank-based financial services companies, with assets of approximately $187.0 billion at September 30, 2021. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of more than 1,000 branches and approximately 1,300 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.
ABOUT HOME HEADQUARTERS
Home HeadQuarters (HHQ) is a Syracuse, New York-based non-profit neighborhood and housing development organization and certified Community Development Financial Institution that has, since 1996, helped more than 5,000 families become first-time homebuyers; provided nearly 11,000 homeowners with $120 million in home improvement loans and grants, and redeveloped nearly 900 formerly vacant properties. Recognized nationally for its innovative and equitable loan products, Home HeadQuarters is annually recognized as the leading home improvement lender to families of color living in Syracuse, out lending all other financial institutions combined. The organization is the country’s first designated Community Based Development Organization (CBDO) and is a chartered member of NeighborWorks America. The organization provides affordable and equitable financing to homebuyers, homeowners, local contractors and “Mom & Pop” landlords throughout Upstate New York helping it receive the designation of Top Home Improvement Lender in the Nation amongst 240+ NeighborWorks America member organizations. Learn more at https://www.homehq.org/.