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 $12 Million for Workforce and Affordable Housing Development in Niagara Falls, New York
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...
Feb 29, 2016 11:00 AM ET
KeyBank Provides $28.67MM to Affordable Housing Development for Seniors in St. Lawrence County
CLEVELAND, January 28, 2016 /3BL Media/ — Today, KeyBank announced its total investment of $28.67MM in the Cambray Court Apartments, a 71-unit affordable housing project re-developed in partnership with Omni Housing Development LLC and managed by United Helpers to support seniors in St. Lawrence County, New York. The re-development will replace 72 flood-threatened garden style apartments with...
Jan 28, 2016 8:40 AM ET
KeyBank Assembles Senior Team to Expand Affordable Housing Platform to All 50 States
CLEVELAND, November 12, 2015 /3BL Media/ – Key’s Community Development Lending and Investment (CDL/I) segment today announced the assembly of six senior-level leaders who will focus on affordable housing, lead a team of more than 50 professionals, drive the expansion of Key’s affordable housing platform from 12 to 50 states, and double the size of the business in the next three years. They...
Nov 12, 2015 1:30 PM ET
KeyBank Provides $13.8 MM to Affordable Housing Development in Oregon During Housing America Month
CLEVELAND, October 22, 2015 /3BL Media/ - Today, KeyBank announced it will provide $13.8 million to support the development of Bascom Village Phase I, a 53-unit affordable housing complex sponsored by the St. Vincent de Paul Society of Lane County (SVDP) in Eugene, Oregon. The loan will support underserved families working to get ahead in a volatile labor market, and highlights the importance...
Oct 22, 2015 9:00 AM ET