Simone Scott and her children are among the first residents of the Conway Center, an affordable housing development in Washington, D.C., that also provides job training, health care, and other resources, thanks to a grant from Wells Fargo.
Just a few years ago, Simone Scott lost her job, lost her home, and suffered a seizure while pregnant, all in a short period of time, leaving her, her young son, and newborn daughter homeless. But after learning about the nonprofit So Others Might Eat, or SOME, Scott received housing and support, allowing her to get back on her feet. Today, she is enjoying her new home at SOME’s Conway Center and hopes to give back to others like herself as a wellness consultant.
Grant will support mixed-income housing and economic development within Atlanta’s Westside community
ATLANTA, March 18, 2019 /3BL Media/ — The SunTrust Foundation announced today it awarded a $5 million grant to the Westside Future Fund (WFF). The grant will positively impact Atlanta’s historic Westside neighborhoods, whose footprint once housed more than 40,000 residents by supporting mixed-income housing and economic development. This will ensure that legacy residents can continue to call the historic Westside home and thrive as part of the revitalization efforts taking place.
While difficult at the moment, the many conversations with my friends about money inspired me to explore a different path. Conversation after conversation, I started to chip away at what felt wrong about money, and we would talk about their “wish list” when it comes to finance. What came up again and again was the desire to feel smart about money decisions – “whatever I do should be easy to understand, available to all, convenient to do, and make me feel good and empowered.”
Wells Fargo continued its commitment to communities by increasing philanthropy and supporting affordable housing, small business, education, sustainability, and local issues.
Wells Fargo increased its philanthropic impact in 2018 by donating $444 million to nearly 11,000 nonprofits that help communities and people in need, surpassing its $400 million goal. The company has been committed to local communities throughout its 167-year history and has increased its philanthropy 25 times over the past 28 years.
Diagonal Crossing will offer the community 105 new units of affordable housing for individuals and families with incomes at or below 60% area median income (AMI)
CLEVELAND, January 28, 2019 /3BL Media/ — KeyBank announced today $50.4 million in total combined financing for a tax-exempt bond transaction to support Koelbel & Company’s construction of Diagonal Crossing. Diagonal Crossing is a 105-unit garden-style apartment community that is income-restricted for families earning at or below 60% AMI in Boulder, CO.
Castilian Apartments is a workforce housing project featuring units with rents at 80% area median income (AMI) or less
CLEVELAND, January 28, 2019 /3BL Media/ — KeyBank announced today $37.1 million in total combined financing to support the refinancing of Castilian Apartments in Orlando, FL by Dominium, one of the largest affordable housing development and management companies in the United States.
The 14.8-acre workforce housing multifamily property features 17, two-story residential buildings with 304 garden-style apartments. Castilian Apartments was originally built in 1975 and renovated in 2017.
The combined construction and permanent loan financing will make 241 units of quality affordable housing accessible to seniors aged 55 or older
CLEVELAND, January 25, 2019 /3BL Media/ — KeyBank Community Development Lending and Investment (CDLI) provided $70 million in combined construction and permanent loan financing to AVS Communities for the Reserve at Lacey, a 241-unit affordable housing property serving seniors aged 55 or older who earn 60% of the area median income (AMI). Reserve at Lacey is in Lacey, WA.
The rehabilitation of two properties in New York City will significantly improve residents’ quality of life and establish permanent affordability for these units, as part of the Permanent Affordability Commitment Together (PACT) program
CLEVELAND, January 25, 2019 /3BL Media/ — KeyBank Community Development Lending and Investment (CDLI) recently closed $24.5 million in total financing for the Gilbane Development Company’s acquisition and renovation of two New York City Housing Authority (NYCHA) properties, Highbridge Franklin and Twin Parks West, to preserve 647 units of permanent affordable housing in the Bronx, NY.
The preservation of affordable housing at White Rock Apartment Homes supports the City of San Antonio’s affordable housing initiatives
CLEVELAND, January 10, 2019 /3BL Media/ - KeyBank announced today arranging $28.4 million in a Fannie Mae affordable housing preservation refinance loan for Commonwealth Multifamily Housing Corporation (“Commonwealth”) for the benefit of White Rock Apartment Homes, a multifamily, 336-unit mixed-income property in San Antonio, TX.