Affordable Rate Sheet

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.

KeyBank Community Development Lending & Investment provided $17.5 million in capital for the new construction of Owens Adair II, a 50-unit senior affordable housing project in Astoria, Oregon. Thirty-seven units will serve senior citizens earning no more than 40% – 50% of the area median income (AMI) and 13 units will be permanent supportive housing for seniors who have or are experiencing homelessness.

Supportive services will be offered to residents and will include assistance accessing basic needs such as food, clothing, personal care, health services, and employment programs. Additional services will be provided for those experiencing homelessness and will include access to furniture, bedding, cleaning, and kitchen items, peer support for mental health and addiction services, assistance with applications for housing vouchers and mainstream benefits, and navigation and advocacy with healthcare providers. We want to thank the Northwest Oregon Housing Authority and Community Development Partners for their sponsorship and shared mission to build much-needed affordable housing in Oregon. 

The financing includes a $17.5 million construction loan.

KeyBank Community Development Lending & Investment provided $66.5 million in capital to acquire and rehabilitate The Cesera, a 204-unit senior affordable housing project in Garland, Texas. The community is owned and managed by Dominium, a leading national developer, owner, and manager of affordable housing. All 204 units will serve senior citizens earning no more than 40% – 60% of the area median income (AMI).

Supportive services will be offered to residents and will include adult education programs, health screenings and immunizations, counseling programs, computer education, and recreational activities. We want to thank Dominium and Garland Housing Finance Corporation for their sponsorship and shared mission to preserve much-needed affordable housing in Texas.

The financing includes a $20.1 million construction loan, $23.1 million in LIHTC equity, and a $23.3 million Fannie M.TEB permanent loan.

KeyBank Community Development Lending & Investment provided $114.2 million in capital for the new construction of Hill View Heights, a 260-unit affordable housing project in San Antonio, Texas. All 260 units will serve families and individuals earning no more than 30% – 70% of the area median income (AMI).

Supportive services for residents will include an onsite food pantry stocked with non-perishable food and common household items, twice monthly recreational activities and onsite social events, and an annual health fair featuring local health care professionals. We want to thank Kittle Property Group for its sponsorship and shared mission to build much-needed affordable housing in Texas.

The financing includes a $54.5 million construction loan, $28.2 million in LIHTC equity, a $31.5 million permanent loan, and bond underwriting provided by Keybanc Capital Markets.

KeyBank Community Development Lending & Investment provided $38.5 million in capital for the new construction of Hooper Road Apartments, an 80-unit senior affordable housing project in Endicott, New York. All 80 units will serve senior citizens earning no more than 30% – 60% of the area median income (AMI).

Supportive services will be offered to residents and will include case management, recreation and socialization, independent living skills, wellness and nutrition, and financial assistance. We want to thank CDS Monarch, Inc. for its sponsorship and shared mission to build much-needed affordable housing in New York and thank CSD Housing for its partnership.

The financing includes a $22.6 million construction loan and $12 million in Low-Income Housing Tax Credit (LIHTC) equity and $3.9 million in State Low-Income Housing Tax Credit (SLIHC) equity.

KeyBank Community Development Lending & Investment, in partnership with Banner Bank, provided $21.3 million in construction loans for New Path II, a 96-unit permanent supportive housing project in Boise, Idaho. This 9% and 4% twinning Low-Income Housing Tax Credit (LIHTC) project will have 95 units, which will serve families and individuals who have or are experiencing homelessness and earning no more than 30% – 60% of the area median income (AMI).

Supportive services for residents will include case management, mental health/medical services, independent living skills, education, employment service, substance abuse and addiction services, and transportation. All units will be supported by project-based Section 8 assistance. We want to thank The Pacific Companies, The Richman Group, Banner Bank and the City of Boise for their commitment to the shared mission to build much-needed affordable housing in Idaho.  

The financing includes a $13.3 million 4% LIHTC construction loan and an $8 million 9% LIHTC construction loan.

KeyBank Community Development Lending & Investment provided a $10 million debt facility investment to Raza Development Fund, a national nonprofit CDFI. Founded in 1999, RDF is the largest Latino focused national CDFI and its mission is to invest capital and create financial solutions to build generational wealth for Latino and underserved families across the country. Since its inception, RDF has directly invested $1.5 billion in 38 states, leveraging over $6 billion in education, affordable housing, healthcare, social services, and social entrepreneurship. We want to thank the Raza Development Fund for its commitment and for making a difference in the community.

KeyBank Community Development Lending & Investment provided $93 million in capital for the new construction and permanent financing of Caravel Apartments, a 234-unit senior affordable housing project in Columbus, Ohio. All 234 units will serve senior citizens earning no more than 60% of the area median income (AMI). Supportive services will be offered to residents through a service coordinator who will provide guidance and linkage to community service providers, assistance with food resources, financial fitness workshops, and credit/budgeting counseling sessions. We want to thank Kittle Property Group for its sponsorship and shared mission to build much-needed affordable housing in Ohio.

The financing includes a $43.2 million construction loan, $23.7 million in LIHTC equity, a $26.1 million Fannie Mae MTEB, and $37.8 million in tax-exempt bonds underwritten by KeyBanc Capital Markets.

KeyBank Community Development Lending & Investment provided $67.5 million in capital for the new construction of Redmond Landing Apartments, a 156-unit affordable housing project in Redmond, Oregon. All 156 units will serve families and individuals earning 60% of the area median income (AMI). The property will feature a community room for residents and is close to many critical neighborhood services such as grocery stores, healthcare sites, and a public library. We want to thank Southport for its sponsorship and shared mission to build much-needed affordable housing in Oregon.

The financing includes a $42 million construction loan, a $25 million Fannie M.TEB permanent loan, and $31.5 million in tax-exempt bonds underwritten by KeyBanc Capital Markets.

KeyBank Community Development Lending & Investment provided a $5 million term debt facility investment to the CDP Connecticut Loan Fund, a non-profit CDFI in Bridgeport, Connecticut. CDP operates as the Connecticut Small Business Boost Fund and is a loan program created to address the capital needs of the small businesses and nonprofit organizations of the state of Connecticut as they continue emerging from the heart of the COVID-19 pandemic and seek to propel their communities forward. The effort targets under-resourced and under-banked communities, with a goal of reaching Connecticut’s most fiscally and economically distressed municipalities. We want to thank the CDP Connecticut Loan Fund for its commitment and for making a difference in Connecticut’s communities.

KeyBank Community Development Lending & Investment provided $96.1 million in total capital for the new construction and permanent financing of Residences at Pearsall Park, a 237-unit senior affordable housing project in San Antonio, Texas. All 237 units will serve senior citizens earning 30% – 60% of the area median income (AMI). Supportive services will be offered to residents and will include adult education programs, financial literacy and planning, homebuyer education, health screening, and social events/recreation. We want to thank Lincoln Avenue Capital for its sponsorship and shared mission to build much-needed affordable housing in Texas. KeyBank Real Estate Capital would like to express its appreciation for the partnership with San Antonio Housing Trust and Fannie Mae.

The financing includes a $46.4 million construction loan, $26 million in LIHTC equity, and a $23.7 million Fannie Mae M.TEB forward commitment for permanent financing. KeyBanc Capital Markets served as bond underwriter for the 4% capital transaction and led the bond sale of $31.95 million of tax-exempt private activity bonds issued by the San Antonio Housing Trust Public Facility Corporation.

KeyBank Community Development Lending & Investment provided $22.4 million in capital for the acquisition and rehabilitation of The Arch at Saint Michael, an existing 46-unit senior affordable housing building in Cleveland, Ohio. All 46 units will serve senior citizens earning 40% – 60% of the area median income (AMI). Supportive services will be offered to residents and will include health and wellness support, home management, financial literacy classes, transportation, and social/recreation activities. We want to thank CHN Housing Partners and Ohio Capital Corporation for Housing for its sponsorship and shared mission to preserve much-needed affordable housing in Ohio.

The financing includes a $7.3 million construction loan and a $7.3 million prop investment.