CDLI

KeyBank Finances $50.4 Million for the Construction of Multifamily Affordable Housing in Boulder, CO

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)
Press Release

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.

KeyBank Provides $70 Million in Combined Financing for 241 Units of Affordable Seniors Housing in Lacey, WA

The combined construction and permanent loan financing will make 241 units of quality affordable housing accessible to seniors aged 55 or older
Press Release

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.

KeyBank Closes $24.5 Million in Financing for the Renovation of 647 Affordable Housing Units in the Bronx

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
Press Release

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.  

KeyBank Arranges $28.4 Million in Financing for the Preservation of Affordable Housing in San Antonio

The preservation of affordable housing at White Rock Apartment Homes supports the City of San Antonio’s affordable housing initiatives
Press Release

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.

KeyBank Finances the Construction of Affordable Housing for Low- to Moderate-income Households in Portage, Mi

Press Release

CLEVELAND, December 19, 2018 /3BL Media/ — KeyBank Community Development Lending & Investment (CDLI) has provided $21.9 million in total financing to Home Leasing, LLC for the historic preservation and creation of affordable housing in the former Holley High School in Holley, NY. KeyBank provided a $9.9 million construction loan, plus $6.8 million in Low-Income Housing Tax Credit (LIHTC) equity and $5.1 million in Historic Tax Credit (HTC) equity.

KeyBank Provides $21.9 Million in Total Financing for Creation of Affordable Seniors Housing in Holley, NY

Press Release

CLEVELAND, December 18, 2018 /3BL Media/— KeyBank Community Development Lending & Investment (CDLI) has provided $21.9 million in total financing to Home Leasing, LLC for the historic preservation and creation of affordable housing in the former Holley High School in Holley, NY. KeyBank provided a $9.9 million construction loan, plus $6.8 million in Low-Income Housing Tax Credit (LIHTC) equity and $5.1 million in Historic Tax Credit (HTC) equity.

KeyBank Arranged Financing for the New Construction of Affordable Housing Apartments in Oklahoma City

Press Release

CLEVELAND, December 17, 2018 /3BL Media/ — KeyBank Real Estate Capital arranged a $3.9 million Fannie Mae, 9% Low-Income Housing Tax Credit (LIHTC) forward commitment permanent loan for Four Corners Development to finance the new construction of Council Trails Apartments. Council Trails Apartments is a 72-unit affordable housing property in Oklahoma City, OK comprised of four, three-story residential buildings. The Oklahoma Housing Finance Agency (OHFA) provided the 9% LIHTC equity allocation.

KeyBank Partners With Related Companies and Provides $87 Million in Financing for the Revitalization of Two Affordable Housing Developments in Cincinnati

The acquisition and rehabilitation of the Avondale Properties and Alms Hill Apartments will ensure the availability of long-term affordable housing options for the larger Avondale Community
Press Release

CINCINNATI, December 7, 2018 /3BL Media/—KeyBank Real Estate Capital and KeyBank Community Development Lending and Investment (CDLI) have provided a total of $87 million in financing to Related Companies, for the acquisition and rehabilitation of more than 400 affordable housing units in Cincinnati, OH.

KeyBank Finances New Construction of Affordable Housing for Families in Arlington, WA

The financing makes possible the new construction of more than 300 affordable housing units for families in the community
Press Release

CLEVELAND, Ohio, December 3, 2018 /3BL Media/—KeyBank provided and arranged both construction and permanent financing supporting AVS Communities’ plan to construct The Villas at Arlington, a 312-unit, mid-rise apartment complex with 17 three-story residential buildings. The property is subject to Section 42 of the Low-Income Housing Tax Credit (LIHTC) program and will make affordable housing options available to families earning less than 60% area median income (AMI) in Arlington, WA. 

KeyBank Expands Capabilities to Support CDLI Growth

Five new underwriters will bolster community development lending and investment work across the national platform out of Cleveland, Boston, Chicago and Seattle
Press Release

CLEVELAND, November 13, 2018/3BL Media/ - KeyBank Community Development Lending & Investment (CDLI) announced today that it has hired five new underwriters to support work across its growing business. The CDLI platform brings together balance sheet, equity and permanent loan offerings to finance the preservation and development of affordable housing and other community development projects.

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