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KeyBank Finances New Development of Mixed-Use Property Serving the Homeless and Individuals with Sensory and Mobility Impairments

Press Release

CLEVELAND, November 7, 2018 /3BL Media/ — KeyBank Community Development Lending & Investment (CDLI) provided Cook Inlet Housing Authority (CIHA) $6.9 million in combined construction-to-permanent loan financing for the development of Elizabeth Place Apartments, along with $5.8 million in LIHTC equity. Elizabeth Place Apartments will be a mixed-use project in downtown Anchorage, AK with commercial space and 38 units of affordable housing for those earning between 50 – 60% area median income (AMI).  The project will also have 12 market rate units.

KeyBank Provides $39.4 Million in Financing for the Redevelopment and Preservation of a Historic Cleveland Affordable Housing Property

Press Release

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.

KeyBank Provides $6 Million in Financing for Preservation of Affordable Housing in Cleveland

Press Release

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).

KeyBank Expands Corporate Responsibility Leadership Team

Kelli Arnold named Director of Corporate Responsibility and Community Engagement; Eric Fiala appointed Director of Corporate Community Initiatives & Relations
Press Release

CLEVELAND, October 11, 2018 /3BL Media/ — KeyBank has expanded its Corporate Responsibility leadership team to further drive KeyBank’s commitment to helping communities thrive.  As part of the expansion, Kelli Arnold has been named director of Corporate Responsibility and Community Engagement and Eric Fiala has been appointed Director of Corporate Community Initiatives & Relations.

KeyBank and Fannie Mae Partner on Inaugural Healthy Housing Rewards Enhanced Resident Services™ Rehabilitation

Financing will Allow for the Rehabilitation of Two Affordable Housing Projects in Newark, NJ
Press Release

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.

KeyBank Provides $30.9 Million in Total Financing for Two Affordable Housing Projects in Seattle

Press Release

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.

Keybank Provides $38.4 Million in Total Financing for the Construction of Affordable Housing in Texas

Press Release

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.

KeyBank Provides $19.6 Million in Total Financing for the Construction of Affordable Housing in New York

Press Release

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.

KeyBank Provides $10.4 Million in Financing for Affordable Housing Expansion in Miami

Press Release

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). 

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.

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