Affordable Rate Sheet

Key Community Development Lending & Investment provided $41.1 million in financing for the rehabilitation of Shippan Place, a 146-unit senior affordable housing building in Stamford, Connecticut. All 146 units serve senior citizens earning no more than 60% of area median income. Supportive services are offered to residents and include wellness and fitness workshops, financial literacy classes, food distribution, and health and nutrition education. The financing includes a construction loan, LIHTC equity, a permanent loan, and bond underwriting. We want to thank the Jonathan Rose Companies for their commitment to preserving much needed senior affordable housing in Connecticut.

Key Community Development Lending & Investment provided $78.8 million in financing for the acquisition and construction of Promontory Place, a 175-unit affordable housing building in Salt Lake City, Utah. All 175-units will serve families and individuals earning no more than 50 - 60% of area median income. The financing includes a construction loan, permanent loan, and bond underwriting. We want to thank Alta Bay Holdings for their commitment to building much needed affordable housing in Utah.

Key Community Development Lending & Investment provided $38.6 million in financing for the new construction of Playter Gardens, a 73-unit affordable housing project in Buffalo, New York. All 73 units will serve families and individuals earning no more than 50 - 60% of area median income. Supportive services will be offered to residents and will include case management, job training, and health and wellness services. The financing includes a construction loan, LIHTC equity, and a permanent loan. We want to thank SAA/EVI for their commitment to building much needed affordable housing in New York.

Key Community Development Lending & Investment provided $141.6 million in financing for the new construction of Oso Apartments, a 336-unit affordable housing project in Converse, Texas. All 336 units will serve families and individuals earning no more than 30 - 70% of area median income. Supportive services will be offered to residents and will include health and medical prevention services, job training, and youth programming and education. The financing includes a construction loan, LIHTC equity, a permanent loan, and bond underwriting. We want to thank The NRP Group for their commitment to building much needed affordable housing in Texas.

Key Community Development Lending & Investment provided $21.8 million in financing for the new construction of Flats on Wolf Creek, a 65-unit affordable housing building in Trotwood, Ohio. All 65 units will serve families and individuals earning no more than 30 - 80% of area median income. Supportive services will be offered to residents and will include healthcare coordinators, financial literacy education, and social services. The financing includes a construction loan, LIHTC equity, and a permanent loan. We want to thank the St. Mary Development Corporation for their commitment to building much needed affordable housing in Ohio.

Key Community Development Lending & Investment provided a $5 million term debt facility to the Finance Fund Capital Corporation, a non-profit CDFI based in Columbus, Ohio. FCAP provides capital solutions for underserved communities by investing in people, projects, and businesses that provide needed services, jobs, and new resources. To date, the company has deployed over $705 million in capital throughout Ohio and Indiana, and has created over 50,000 jobs, 22,000 units of housing, and developed over 25 million square feet of housing and commercial space. We want to thank FCAP for their commitment and for making a difference throughout Ohio and Indiana.

Key Community Development Lending & Investment provided a $10 million term debt facility and a $10 million equity investment to the Cleveland Housing Investment Fund, a non-profit CDFI based in Cleveland, Ohio. The objective of CHIF is to create and facilitate the construction and rehabilitation of approximately 2,500 - 3,000 homes within the corporate limits of the City of Cleveland. CHIF will emphasize funding for “missing middle” and workforce housing, with the specific aim of generating disposable income and creating wealth for households located in targeted neighborhoods. We want to thank the CHIF for their commitment and for making a difference throughout Cleveland.

KeyBank Community Development Lending & Investment provided $31.4 million in capital for the new construction of Clarkston Family Haven, a 72-unit affordable housing project in Clarkston, Washington. Seventy units will serve families and individuals earning no more than 30% – 60% of area median income (AMI), with 35 units set aside for those who have or are experiencing homelessness.

Supportive services for residents will include integrated case management to assist in stabilizing housing, income, behavioral health, and addressing addiction issues as well as onsite peer support and mental health counselors. We want to thank Horizon Housing Development and Catholic Housing Services of Eastern Washington for their sponsorship and shared mission to build much-needed affordable housing in Washington. 

The financing includes a $12.1 million construction loan and $19.3 million in Low-Income Housing Tax Credit (LIHTC) equity.