CLEVELAND, February 1, 2018 /3BL Media/ - KeyBank Community Development Lending & Investment (CDLI) has provided a $3 million construction loan with 9% LIHTC financing for the acquisition and rehabilitation of Peterson Park, an existing 39-unit USDA Rural Development affordable housing property, located in Ammon, ID, that will add one additional unit upon renovation. The property is comprised of five, two-story buildings, with units reserved for tenants earning between 30-60% area median income (AMI). The project will benefit from a Rental Assistance Contract for all 40 units.
CLEVELAND, January 29, 2017 /3BL Media/ - KeyBank Community Development Lending & Investment (CDLI) has provided an $8.5 million construction loan and $10.5 million in 9% LIHTC equity for the development of Renton Commons, a 48-unit affordable housing project with 36 units of permanent supportive housing, located in Renton, WA.
CLEVELAND, January 26, 2018/3BL Media/ — KeyBank Community Development Lending & Investment (CDLI) has provided $16.6 million in total financing for Allegheny Dwellings Phase I. The first of three phases, Allegheny Dwellings Phase I involves replacing existing public housing with 65 new mixed income units in Pittsburgh’s Fineview neighborhood. The Project will be developed by TREK Development Group, in partnership with the Housing Authority of the City of Pittsburgh.
CLEVELAND, January 23, 2017/3BL Media/ — KeyBank Community Development Lending & Investment (CDLI) has provided a total of $10.4 million in financing to Ithaca Neighborhood Housing Services, Inc., for the acquisition and rehabilitation of Ithaca City Apartments, a 98-unit complex located in Ithaca, NY.
Ithaca City Apartments will be permanently restricted as affordable housing, and create high-quality, energy efficient options in one of the strongest housing markets in upstate NY.
Lynne Callis-Wilson of Key’s CDLI group arranged the financing.
By Laura Altomare, CFRM, Director of Communications and Development, Homewise
Since our founding in 1986, we’ve helped over 14,000 households become more financially educated, 3,600 become homeowners, 2,100 make energy-efficient home improvements and emergency repairs, 600 refinance to more affordable mortgages, and we have built over 600 high-quality affordable homes. These results are made possible through the support of our investors and donors, who serve as our partners in helping families build financial resilience and stability through successful homeownership.
CLEVELAND,December 13, 2017/3BL Media/ - KeyBank Community Development Lending & Investment (CDLI) has provided an $8.2 million credit enhancement for the construction of Roosevelt Residences, located in Utica, NY. The project is being developed by Norstar Development USA, L.P., and the Municipal Housing Authority of the City of Utica, NY.
Governor Daugaard joins Wells Fargo to announce NeighborhoodLIFT program that will offer homebuyer education plus $7,500 down payment assistance grants for all 66 counties and rural communities
SIOUX FALLS, S.D., November 30, 2017 /3BL Media/ – Wells Fargo & Company (NYSE:WFC), NeighborWorks® America and its network member, GROW South Dakota, today announced the NeighborhoodLIFT® program is coming to South Dakota with a $2 million commitment by Wells Fargo to boost homeownership for eligible homebuyers across the state’s 66 counties. This will be Wells Fargo’s 56th LIFT program and second-statewide effort in the U.S.
Morgan Apartments will serve families earning between 30% and 60% AMI
CLEVELAND,November 27, 2017 /3BL Media/ - KeyBank Community Development Lending & Investment (CDLI) has provided a total of $8.3 million in 9% LIHTC financing to The Model Group, Inc. and Over-the-Rhine Community Housing, Inc. (OTRH) for the acquisition and renovation of Morgan Apartments, a 48-unit scattered site, affordable multifamily housing project in Cincinnati, OH. KeyBank arranged a $7.8 million construction loan and a $450,000 permanent loan, using the FHLB of Cincinnati’s Community Investment Program (CIP).