KeyBank Invests $10 million in Detroit's Housing for the Future Fund to Help Preserve and Create Affordable Housing

Jan 24, 2022 8:30 AM ET
Mayor Duggan of Detroit speaking from a podium. KeyBank LISC banner is behind him. Two males and two females stand behind him to the left and right.

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KeyBank Community Development Lending and Investment (CDLI) is investing $10 million toward the creation and preservation of affordable housing in the city through the Detroit Housing for the Future Fund (DHFF). Representatives from KeyBank and the Local Initiatives Support Corporation (LISC) joined Detroit Mayor Michael Duggan at an announcement on January 12, 2022.

The DHFF, which was announced by Mayor Duggan in 2020, represents the largest single private commitment to affordable housing in Detroit’s history. The DHFF is a private investment fund managed by LISC Detroit and LISC Strategic Investments that is committed to investing private capital into affordable housing projects in need of gap financing to move the developments forward. The DHFF is a part of the larger Affordable Housing Leverage Fund, which is an initiative of the City of Detroit’s Housing & Revitalization Department.

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Watch the video on FOX2 here