Community Development Lending and Investment (CDLI)

KeyBank Provides $43 Million in Financing for Affordable Housing in Oregon

Press Release

CLEVELAND, February 23, 2018 /3BL Media/ — KeyBank Community Development Lending & Investment (CDLI) has provided $43 million in construction financing to BRIDGE Housing Corporation (BRIDGE) for the development of 203 affordable housing units in the RiverPlace neighborhood of Portland, OR. The affordable housing project is the culmination of a competitive request for proposal process initiated jointly by the Portland Housing Bureau and Prosper Portland. National Equity Fund, Inc. is the Low-Income Housing Tax Credit limited partner of RiverPlace Housing 3 Limited Partnership (LP).

KeyBank Provides $4.4 Million in Financing for Multifamily Affordable Housing in New York

Press Release

CLEVELAND, December 14, 2017 /3BL Media/ — KeyBank Community Development Lending & Investment (CDLI) has provided a $4.4 million Fannie Mae loan to Mt. Vernon Associates, LP, to renovate Greencourt Apartments, a 76-unit, multifamily affordable apartment complex in Mount Vernon, NY, with 59 units reserved for tenants earning no more than 60% AMI.

The property was constructed in 1926 and received LIHTC funding to help finance a substantial renovation in 1997.

John Gilmore IV and Jeff Rodman of KeyBank’s CDLI team arranged the financing.

KeyBank Provides $8.2 Million in Financing for Construction of New York Affordable Housing Property

Press Release

CLEVELAND, December 13, 2017 /3BL Media/ - KeyBank Community Development Lending & Investment (CDLI) has provided an $8.2 million credit enhancement for the construction of Roosevelt Residences, located in Utica, NY. The project is being developed by Norstar Development USA, L.P., and the Municipal Housing Authority of the City of Utica, NY.

KeyBank Provides $12 Million for Workforce and Affordable Housing Development in Niagara Falls, New York

Niagara City Lofts will provide workforce and affordable housing, benefit low-income veterans and special needs households
Press Release

February 29, 2016 /3BL Media/ -- Today, KeyBank announced it will provide a total of $12 million in capital to help develop the Niagara City Lofts in Niagara Falls, New York. The adaptive reuse project will convert an existing, abandoned public school, built in 1923 and vacant since 1986, into 61 units of workforce housing, affordable housing, market rate apartments, and a new commercial community space. The building has been submitted to the National Register of Historic Places for designation as a historic building.

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