Key Supports Affordable Housing

Primary tabs

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 $39.4 Million in Financing for the Redevelopment and Preservation of a Historic Cleveland Affordable Housing Property
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...
Oct 22, 2018 6:30 PM ET
KeyBank Provides $6 Million in Financing for Preservation of Affordable Housing in Cleveland
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...
Oct 12, 2018 12:50 PM ET
KeyBank and Fannie Mae Partner on Inaugural Healthy Housing Rewards Enhanced Resident Services™ Rehabilitation
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. The financing...
Sep 26, 2018 2:35 PM ET
KeyBank Provides $30.9 Million in Total Financing for Two Affordable Housing Projects in Seattle
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. A $13.6 million construction loan will be used for the construction...
Sep 5, 2018 10:00 AM ET
Keybank Provides $38.4 Million in Total Financing for the Construction of Affordable Housing in Texas
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....
Aug 16, 2018 5:30 PM ET

Pages