KeyBank secured $13 million of financing for The NRP Group, LLC, a real estate development and property management company based in Cleveland, to build an affordable housing project in Cleveland. KeyBank Community Development Lending and Investment (CDLI) secured a $9.5 million construction loan, and KeyBank’s Commercial Mortgage Group arranged a $3.3 million forward commitment for a Freddie Mac permanent loan.
Via Sana will feature 72 one-, two- and three-bedroom affordable rental residents. It is being developed by NRP, The MetroHealth System and CCH Development Corp. Via Sana is part of a $60 million mixed-used project spearheaded by MetroHealth System in Cleveland’s Clark-Fulton neighborhood. The development comes on the heels of MetroHealth’s $1 billion transformation of its main hospital campus.