KeyBank Community Development Lending & Investment has provided $30.6 million in financing to the Housing Trust Group of Coconut Grove, FL for the new construction of Princeton Park Apartments, a 150-unit LIHTC affordable apartment property located approximately 25 miles southwest of Miami. Specifically, KeyBank arranged a $23.3 million construction loan and a $7.3 million permanent loan through a Freddie Mac 9% LIHTC Forward Commitment product from its Targeted Affordable Housing platform.
To make true progress on the world’s largest societal issues — such as community health, economic development, and education and skills development—governments, companies, and nonprofits must work together. But, how does a company or organization develop and sustain successful public-private partnerships to achieve large-scale impact?