CLEVELAND, October 22, 2018 /3BL Media/ - KeyBank Real Estate Capital and KeyBank Community Development Lending and Investment (CDLI) have provided a total of $39.4 million in financing for the redevelopment and preservation of Commodore Apartments in Cleveland, OH. Specifically, KeyBank provided a $16.6 million LIHTC equity investment, an $11.6 million construction loan and an $11.1 million non-recourse, FHA 221(d)(4) first mortgage loan.
Reimagining an old storage building is made possible through an Opportunity Zone investment.
The building looms large on the SouthSide of Bethlehem, Pennsylvania. With its ornate red brickwork, thick walls and heavy wooden beams, it’s seen its share of history during the 125 years it has stood on the edge of the Lehigh University campus.
For more than half its life the building was an ice plant and cold storage warehouse. But, time and technology have rendered it obsolete. The university used it for many years as a dry storage and maintenance facility. But, the time finally came to find a new use for the old building.
CLEVELAND, October 12, 2018 /3BL Media/ - KeyBank Community Development Lending & Investment (CDLI) has provided $6 million in construction financing to Woda Cooper Communities for the acquisition and substantial rehabilitation of the Stuyvesant Motor building in Cleveland, OH. Upon completion, the historic five-story building will be renamed Prospect Yard and contain 42 units serving individuals and families earning at or below 60% area median income (AMI).
3BL Media SDG Webinar Series Features Business Call to Action, CEMEX, Oct. 17, noon ET
NEW YORK, September 28, 2018 /3BL Media/ – The world’s population is forecast to swell to 9.8 billion people by 2050, and 70 percent will live in urban centers. Unlocking access to affordable housing is key to achieving the United Nations Sustainable Development Goals (SDGs).
Financing will Allow for the Rehabilitation of Two Affordable Housing Projects in Newark, NJ
CLEVELAND, September 26, 2018 /3BL Media/ - KeyBank Real Estate Capital (KBREC) and KeyBank Community Development Lending & Investment (CDLI) have provided a first-of-its-kind Fannie Mae Healthy Housing Rewards Enhanced Resident Services loan to Omni New York LLC for the acquisition and rehabilitation of two affordable housing properties in Newark, NJ.
Company making progress against $400 million philanthropy goal set for 2018
SAN FRANCISCO, September 19, 2018 /3BL Media/ - According to a new survey on corporate giving from the Chronicle of Philanthropy, the Wells Fargo Foundation is the No. 2 corporate cash giver in the U.S. and the top financial institution in overall giving.
Development of next generation of Enterprise Green Communities Criteria to synchronize with ILFI’s healthy materials programs, including Red List, Declare and the Living Product Challenge
PITTSBURGH, September 11, 2018 /3BL Media/ - As the first to address the unique needs of the affordable housing sector, Enterprise Community Partners Inc. (Enterprise) and the International Living Future Institute (ILFI) have partnered to scale programs for healthy, sustainable development into Enterprise’s Green Communities Criteria.
CLEVELAND, September 5, 2018/3BL Media/— KeyBank Community Development Lending & Investment (CDLI) has provided $30.9 million in total financing to Community House Mental Health Agency for two tax credit affordable housing properties located at the corner of 23rd and Jackson streets in Seattle, WA.
CLEVELAND, July 18, 2018 /3BL Media/ —KeyBank Community Development Lending and Investment (CDLI) has provided $19.6 million in total financing for the development and acquisition of Mosaic Village in Cohoes, NY. Key provided a $10.7 million construction loan, plus $8.9 million in Low-Income Housing Tax Credit equity.
CLEVELAND, July 10, 2018 /3BL Media/ — KeyBank Community Development Lending & Investment (CDLI) provided a $10.4 million bridge loan to Affordable Housing Development Services, LLC (AHDS) for the acquisition of Ocean King Apartments, an 82-unit project located in North Miami, FL. Ocean King Apartments is currently operating at market rate and will be transitioned to an affordable community that will serve individuals earning up to 60% area median income (AMI).