The preservation of affordable housing at White Rock Apartment Homes supports the City of San Antonio’s affordable housing initiatives
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.
Selinon Park Apartments to provide 75 new affordable units
CLEVELAND, December 20, 2018 /3BL Media/—KeyBank provided and arranged a total of $17.4 million in Low-Income Housing Tax Credit (LIHTC) financing to Full Circle Communities for the construction of Selinon Park Apartments, providing 75 affordable housing units serving households that earn 30% and 60% area median income (AMI) in Portage, MI.
The financing will support the redevelopment of a former public school into 50 units of affordable housing for low-income seniors and homeless frail elderly
CLEVELAND, December 18, 2018 /3BL Media/— KeyBank Community Development Lending & Investment (CDLI) provided a $10.8 million construction loan to support the Jason Gwilt Memorial Senior Apartments, a converted public school in Verona, NY that will make 50 units of affordable seniors housing and a senior center available to the community.
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.
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.
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
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’s Community Development Lending & Investment team supported The Millenia Companies’ effort to rehabilitate 400 units of affordable housing in the city
CLEVELAND, December 5, 2018 /3BL Media/ - KeyBank Community Development Lending & Investment (CDLI) provided The Millenia Companies with $59.2 million in combined construction to permanent loan financing for the rehabilitation of 400 units of affordable housing at Cavalier Court Apartments and Gospel Gardens in Memphis, TN.
The financing allows for the preservation of more than 200 units of affordable housing serving seniors in the community
CLEVELAND, Ohio, December 3, 2018/3BL Media/—KeyBank provided and arranged both construction and permanent financing to support the Senior Housing Assistant Group (SHAG) with the acquisition and rehabilitation of Sunset Garden Apartments, an affordable seniors housing property serving those aged 62 or older in Puyallup, WA. The 276-unit community is reserved for seniors making between 50 – 60% area median income (AMI), given its Section 42 designation under the Low-Income Housing Tax Credit (LIHTC) program.
The financing makes possible the new construction of more than 300 affordable housing units for families in the community
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.
Five new underwriters will bolster community development lending and investment work across the national platform out of Cleveland, Boston, Chicago and Seattle
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.