- link Copy Url - [ Share on twitter ](https://twitter.com/intent/tweet?text=KeyBank Provides $8.2 Million in Financing for Construction of New York Affordable Housing Property https://www.3blmedia.com/markdownify/node/139926?absolute=1&via=3blnews "link to 3 B L Media's Twitter") - [ Share on linkedin ](https://www.linkedin.com/shareArticle?mini=true&url=https://www.3blmedia.com/markdownify/node/139926?absolute=1 "link to 3 B L Media's Linkedin") - [ Share on facebook ](https://www.facebook.com/sharer/sharer.php?u=https://www.3blmedia.com/markdownify/node/139926?absolute=1 "link to 3 B L Media's Facebook") - [ email Share via email ](mailto:?subject=KeyBank Provides $8.2 Million in Financing for Construction of New York Affordable Housing Property&body=ESG News from KeyBank https://www.3blmedia.com/markdownify/node/139926?absolute=1 "Share via email") [Sustainable Finance & Socially Responsible Investment](/CSR-News/sustainable-finance-socially-responsible-investment) # KeyBank Provides $8.2 Million in Financing for Construction of New York Affordable Housing Property Dec 13, 2017 4:00 PM ET Campaign: [Key Supports Affordable Housing ](/news/campaign/key-supports-affordable-housing) 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. The property will total 50 units, with eight units reserved for homeless veterans and the chronically homeless. Twenty-five units will also be contracted by a project-based Section 8 Housing Assistance Program through the Municipal Housing Authority of the City of Utica, NY. John Berry and Joe Eicheldinger of Key’s CDLI group arranged the construction financing. The project is being funded in partnership with the City of Utica, the State of New York Mortgage Agency (SONYMA), Housing Finance Agency, the Office of Temporary and Disability Assistance’s Homeless Housing and Assistance Program (HHAP) and RBC Tax Credit Equity. **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 $136.7 billion at September 30, 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 more than 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 | 216.471.2883 | 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 Foundation Invests $225,000 To Preserve Affordable Housing in Toledo’s Old South End](/news/keybank-foundation-invests-preserve-affordable-housing-toledos-old-south-end) Apr 10, 2026 9:00 AM ET ###### [KeyBank Foundation Supports EMMA and Beechwood Businesses with $300,000 Investment in Connected Communities](/news/keybank-foundation-supports-emma-and-beechwood-businesses-300000-investment-connected) Apr 8, 2026 2:00 PM ET ###### [KeyBank Teammates Take the Field for Cleveland Guardians Home Opener](/news/keybank-teammates-take-field-cleveland-guardians-home-opener) Apr 8, 2026 9:00 AM ET ###### [Americans Respond to Financial Pressures With Smarter Spending and Increased Saving, New KeyBank Pulse Poll Finds](/news/americans-respond-financial-pressures-smarter-spending-and-increased-saving-new-keybank-pulse) Apr 6, 2026 9:00 AM ET ###### [KeyBank Foundation Awards $200,000 to Capital for Change To Expand Affordable Housing and Community Development in Connecticut](/news/keybank-foundation-awards-200000-capital-change-expand-affordable-housing-and-community) Apr 2, 2026 9:00 AM ET ###### [Northeast Ohio Business Owner Avoids $5,000 Loss Thanks to KeyBank Fraud-Prevention Program](/news/northeast-ohio-business-owner-avoids-5000-loss-thanks-keybank-fraud-prevention-program) Mar 31, 2026 9:00 AM ET ###### [New Junior Achievement Experiential Learning Center, Presented by KeyBank, Focuses on Workforce Readiness ](/news/new-junior-achievement-experiential-learning-center-presented-keybank-focuses-workforce) Mar 30, 2026 9:00 AM ET ###### [KeyBank & CEI Partnership Brings Growth to Maine](/news/keybank-cei-partnership-brings-growth-maine) Mar 27, 2026 9:15 AM ET