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, August 16, 2018 /3BL Media/ — KeyBank Community Development Lending and Investment (CDLI) has provided $38.4 million in total financing for the construction of Del Valle Apartments in Austin, TX. The CDLI team provided a $9 million equity bridge loan, with a $29.4 million Freddie Mac Tax Exempt Loan (TEL) Forward Commitment component arranged by Key’s Commercial Mortgage Group.
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).
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.
Fifth Consecutive Time KeyBank is on the Annual Civic 50 List & Named Financials Sector Leader for Third Time
CLEVELAND, June 19, 2018 /3BL Media/ -KeyBank has been named an honoree of The Civic 50 by Points of Light, the world’s largest organization dedicated to volunteer service. The award recognizes KeyBank as one of the most community-minded companies in the United States. In addition, KeyBank was named the Sector Leader for financial services for the second-straight year and third time overall.
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.
CLEVELAND, May 21, 2018 /3BL Media/ – KeyBank has earned its ninth consecutive "Outstanding" rating from the Office of the Comptroller of the Currency (OCC), for exceeding the terms of the Community Reinvestment Act (CRA) exam. KeyBank is one of the only U.S. national banks among the 25 largest to be rated “Outstanding” by the OCC for nine consecutive review periods, since the Act's passage in 1977.
Eaton Street Apartments will help revitalize the neighborhood and provide critical, quality affordable housing for low-income families
CLEVELAND, May 16, 2018 /3BL Media/ — KeyBank’s Community Development Lending & Investment (CDLI) team has provided a total of $49.7 million in financing to a joint venture among Koelbel and Company, Mile High Development and Longs Peak Advisors to support the new construction of Eaton Street Apartments, a 118-unit affordable housing development in Westminster, CO. Specifically, KeyBank provided a $24.8 million construction loan, a $14.1 million LIHTC equity investment and a $10.8 million Fannie Mae permanent loan. Jefferson County Housing Authority is a Special Limited Partner.
Community Benefits Plan exceeds expectations in first year; $2.8 billion invested in communities during 2017
CLEVELAND, May 11, 2018 /3BL Media/ - KeyBank has released its 2017 Corporate Responsibility Report, highlighting progress in the areas of responsible banking, responsible citizenship and responsible operations. Included in the report are the first year results of the five-year National Community Benefits Plan, under which KeyBank invested $2.8 billion in communities. KeyBank executives said the investment exceeded the goals for 2017 by 21% and represents a strong start for the five-year plan.