Key Supports Affordable Housing

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Key Supports Affordable Housing

KeyBank Community Development Lending and Investment helps fulfill Key’s purpose to help clients and communities thrive by financing projects that stabilize and revitalize communities. Experts in complex tax credit investing, Key is one of a handful of affordable housing lenders in the country with a platform that brings together balance sheet, equity, and permanent loan offerings. In 2014, Key’s Community Development Lending and Investment platform provided nearly $400 million in debt and equity financing to developments in underserved communities. KCDC alone has a substantial portfolio with a current book value of more than $1 billion, 90% of which is Low Income Housing Tax Credit investment. For its ability to lend to, invest in, and serve its communities, especially low-to-moderate income communities, KeyBank, as of its last exam, was the first top U.S. bank to have earned eight “Outstanding” ratings from the Office of the Comptroller of the Currency (OCC), for exceeding the terms of the Community Reinvestment Act (CRA) exam.

Content from this campaign

KeyBank Provides $19.6 Million in Total Financing for the Construction of Affordable Housing in New York
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. Upon completion, there will be 68, one-, two- and three-bedroom units...
Jul 18, 2018 12:30 PM ET
KeyBank Provides $10.4 Million in Financing for Affordable Housing Expansion in Miami
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...
Jul 10, 2018 9:00 AM ET
KeyBank Provides $15.5 Million in Total Financing for Construction of Affordable Housing in Rochester
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. “At KeyBank, we...
Jul 3, 2018 9:00 AM ET
KeyBank Provides $14.2 Million in Total Financing for Preservation of Affordable Senior Housing in Buffalo
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...
Jun 13, 2018 4:00 PM ET
KeyBank Provides $17.4 Million in Total Financing for Construction of Affordable Senior Housing in Florida
CLEVELAND, June 4, 2018 /3BL Media/ — KeyBank Community Development Lending & Investment (CDLI) has provided $17.4 million in total financing for the construction of Hammock Ridge II in Spring Hill, FL. Key provided a $13.7 million construction loan and a $3.7 million Freddie Mac Low-Income Housing Tax Credit (LIHTC) Forward Commitment. Upon completion of Phase II,...
Jun 4, 2018 5:05 PM ET

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