- link Copy URL - [ Share on X ](https://twitter.com/intent/tweet?text=KeyBank Provides $38.5 Million in Total Financing for the Construction of Affordable Housing in New York https://www.3blmedia.com/markdownify/node/173926?absolute=1&via=3blnews "Share on X") - [ Share on linkedin ](https://www.linkedin.com/shareArticle?mini=true&url=https://www.3blmedia.com/markdownify/node/173926?absolute=1 "Share on Linkedin") - [ Share on facebook ](https://www.facebook.com/sharer/sharer.php?u=https://www.3blmedia.com/markdownify/node/173926?absolute=1 "Share on Facebook") - [ email Share via email ](mailto:?subject=KeyBank Provides $38.5 Million in Total Financing for the Construction of Affordable Housing in New York&body=ESG News from KeyBank https://www.3blmedia.com/markdownify/node/173926?absolute=1 "Share via email") [Sustainable Finance & Socially Responsible Investment](/categories/sustainable-finance-socially-responsible-investment) # KeyBank Provides $38.5 Million in Total Financing for the Construction of Affordable Housing in New York Apr 4, 2018 10:00 AM ET Campaign: [Key Supports Affordable Housing ](/news/campaign/key-supports-affordable-housing) ![](https://3blcdn.com/styles/carousel_2x/s3/2026-08/Ida_Yarbrough_1786870135.jpg) CLEVELAND, April 4, 2018 /3BL Media/ — KeyBank Community Development Lending and Investment (CDLI) has provided a total of $38.5 million to Ida Yarbrough Phase II LLC, an entity owned by Albany Housing Authority (AHA), for the new construction of Ida Yarbrough Homes. The 76-unit, affordable housing property is located in Albany, NY and will set aside 12 apartments for households at risk for homelessness. KeyBank provided an $18.1 million LIHTC equity investment, a $17.2 million construction loan and a $3.2 million Freddie Mac first mortgage loan. New York State Homes and Community Renewal (HCR) led the transaction by providing access to a Federal and NYS LIHTC allocation. Additional sources of financing were provided by NYS Housing Trust Fund Corporation, Federal Home Loan Bank of New York, Local Initiative Support Corporation, the City of Albany, and the AHA. John Berry, Jen Seamons, Victoria O’Brien and Joe Eicheldinger of Key’s CDLI group, and Jeff Rodman of Key’s Commercial Mortgage Group, arranged the financing. **About Key Community Development Lending/Investment** KeyBank Community Development Lending and Investment (CDLI) helps fulfill Key’s purpose to help clients and communities thrive by financing projects that stabilize and revitalize communities. Experts in complex tax credit lending and 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. CDLI has a substantial investment and loan portfolio worth more than $2 billion, 90% of which is Low Income Housing Tax Credit (LIHTC) projects. For its ability to lend to, invest in, and serve its communities –especially low-to-moderate income communities – KeyBank has earned eight consecutive “Outstanding” ratings on the Community Reinvestment Act exam, from the Office of the Comptroller of the Currency. **About KeyCorp** KeyCorp's roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $137.7 billion at December 31, 2017. Key provides deposit, lending, cash management, insurance, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,200 branches and more than 1,500 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit . KeyBank is Member FDIC. Contact: Laura Mimura, laura.mimura@key.com \### [![KeyBank Logo](/sites/default/files/Clients/Screen_Shot_2016-05-13_at_10.27.28_AM.png)](/profiles/keybank) ### More from KeyBank ###### [KeyBank Named Official Retail Bank of Colorado Avalanche](/news/keybank-named-official-retail-bank-colorado-avalanche) Oct 5, 2026 9:00 AM ET ###### [KeyBank Provides $92.9 Million in Financing for 166-Unit Affordable Housing Development in Los Angeles](/news/keybank-provides-929-million-financing-166-unit-affordable-housing-development-los-angeles) Oct 1, 2026 9:00 AM ET ###### [Small Business Owners Aren’t Losing Their Dream, but They’re Paying More To Achieve It](/news/small-business-owners-arent-losing-their-dream-theyre-paying-more-achieve-it) Sep 30, 2026 9:00 AM ET ###### [KeyBank Names Drue Anderson To Lead Retail Banking](/news/keybank-names-drue-anderson-lead-retail-banking) Sep 29, 2026 11:55 AM ET ###### [Strengthening Communities Through Partnership: KeyBank and Mi Casa](/news/strengthening-communities-through-partnership-keybank-and-mi-casa) Sep 29, 2026 9:00 AM ET ###### [KeyBank, Real Salt Lake, Utah Royals and RISE Athletics Celebrate Two-Year Anniversary of West Valley Futsal Courts](/news/keybank-real-salt-lake-utah-royals-and-rise-athletics-celebrate-two-year-anniversary-west) Sep 28, 2026 9:00 AM ET ###### [KeyBank Invests $200,000 in Stark State College Foundation To Alleviate Cost of College](/news/keybank-invests-200000-stark-state-college-foundation-alleviate-cost-college) Sep 25, 2026 9:00 AM ET ###### [How To Help Prevent Home Title Theft: Warning Signs and Tips From KeyBank](/news/how-help-prevent-home-title-theft-warning-signs-and-tips-keybank) Sep 24, 2026 11:35 AM ET