Community Development Lending & Investment (CDLI)

KeyBank Provides $15.5 Million in Total Financing for Construction of Affordable Housing in Rochester

Press Release

CLEVELAND, July 3, 2018 /3BL Media/ - KeyBank Community Development Lending & Investment (CDLI) has provided $15.5 million in total financing to Home Leasing, LLC for the construction of Charlotte Square on the Loop in Rochester, NY. Key provided a $6.6 million construction loan, plus $8.9 million in Low-Income Housing Tax Credit (LIHTC) equity.

KeyBank Provides $14.2 Million in Total Financing for Preservation of Affordable Senior Housing in Buffalo

Press Release

CLEVELAND, June 13, 2018 /3BL Media/ —KeyBank Community Development Lending & Investment (CDLI) has provided $14.2 million in construction financing for the renovation of Riverview Manor and Piotr Stadnitski Gardens in Buffalo, NY. The project will be developed in partnership with Smith and Henzy Advisory Group and MDG Design + Construction and is supported by existing project-based HUD Section 8 vouchers.

KeyBank Provides $3 Million in Financing for Ammon Affordable Housing Property

Press Release

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.

KeyBank Provides $8.5 Million in Financing for Affordable Housing in Washington

Press Release

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.

KeyBank Provides $4.4 Million in Financing for Multifamily Affordable Housing in New York

Press Release

CLEVELAND, December 14, 2017 /3BL Media/ — KeyBank Community Development Lending & Investment (CDLI) has provided a $4.4 million Fannie Mae loan to Mt. Vernon Associates, LP, to renovate Greencourt Apartments, a 76-unit, multifamily affordable apartment complex in Mount Vernon, NY, with 59 units reserved for tenants earning no more than 60% AMI.

The property was constructed in 1926 and received LIHTC funding to help finance a substantial renovation in 1997.

John Gilmore IV and Jeff Rodman of KeyBank’s CDLI team arranged the financing.

KeyBank Provides $8.2 Million in Financing for Construction of New York Affordable Housing Property

Press Release

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.

KeyBank Provides $8.3 Million in Total Financing for Affordable Housing in Cincinnati

Morgan Apartments will serve families earning between 30% and 60% AMI
Press Release

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).

KeyBank to Finance Affordable Housing for Seniors with Disabilities Near Syracuse, NY

Key to provide $16.3 million to Christopher Community Inc., for the construction of Harborbrook Apartments, a mixed-income development in Geddes, NY
Press Release

CLEVELAND, June 7, 2017 /3BL Media/ — KeyBank’s Community Development Lending & Investment (CDLI) team will provide a total of $16.3 million in financing to Christopher Community, Inc. for the construction of Harborbrook Apartments, a mixed-income senior housing development near Syracuse, in Geddes, NY. Christopher Community, Inc., a nonprofit specializing in the development and management of senior housing facilities, will receive a $7.3 million construction loan and up to $9 million in LIHTC equity from KeyBank.

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