Deep affordable housing expertise allows us to bring valuable content and actionable ideas to our clients. We’re ready to help move your business toward its strategic goals using an integrated, national platform.
No. 2 Affordable Housing Lender, 20241
Raising nearly $6.3 billion in capital last year, KeyBank continues to close deals that bring much needed housing projects to life.
Changing lives through affordable housing at Via Sana
Affordable housing changes lives. When residents have a home that's affordable, clean, decent, and safe, healthy outcomes and economic upward mobility become possible. Learn how we came together to make it happen.
Robert Likes:
So to put affordable housing project together takes many partners all coming together.
It’s a public-private partnership.
You have the developer who’s the sponsor.
You have your lender providing the construction loan, your equity investor providing the tax credit equity investment, your mortgage banking partner providing the permanent loan.
You have your government agencies and various other parties that all come together rowing the same direction, all for the common good of creating affordable housing.
Kevin Loos:
So it’s really a large collaborative approach in order to get some of these deals done.
Key Bank was the construction lender, the permanent lender, the tax credit investor, the majority of what the capital stack was to build this project.
But we also had the community leaders involved with the project.
We had Metro Health involved with the project.
The city of Cleveland provided financing of the project.
And that’s relationships, that’s partnerships, that’s what you build on year over year, over year, and the trust that’s created on executing what you say you’re going to execute.
Like we are sitting here today.
Robert Likes:
So KeyBank has a vertically integrated national affordable housing platform where we bring together a one stop shop to provide the best execution for our clients.
Their commitment to affordable housing is top notch.
And so I’d expect if you went to KeyBank as a developer, you would be very well taken care of because once you go into KeyBank, you know the platform, either from construction lending, from the tax credit equity investing, from the foundation side to the permanent lending, that it’s a full service.
When you, once you come into the organization and you know that they truly care about you as the developer, as part of the relationship, but also what you’re trying to strive and build for the community.
Expertise
KeyBank Community Development Lending and Investment (CDLI) provides more than capital solutions. It’s a much-needed investment for affordable housing and community development projects in urban and rural communities in all 50 states. Affordable housing owner-operators and developers looking to build, acquire, and preserve affordable housing come to us because we know how to move complicated deals over the finish line. Our clients leverage Key’s broad, fully integrated platform. In addition, we can help assemble innovative and complex financing in conjunction with multiple for-profit, nonprofit, and government entities. Helping communities thrive is more than our business, it’s our mission.
Services
Our suite of services includes:
- Acquisition
- Bridge to resyndication
- Construction
- Debt participation
- Fannie Mae, Freddie Mac
- FHA/HUD
- Federal Home Loan Bank programs
- Fixed and variable rate permanent loan executions
- Federal and state low-income housing tax credits
- Fund management
- Lines of credit and subscription lines
- Preservation
- Private placement tax-exempt bonds
- Refinance
- Tax credit equity and proprietary and multi-fund investments
Community Reinvestment Act
KeyBank’s corporate mission is to help clients and communities thrive. For its ability to lend to, invest in, and serve its communities, especially low- to moderate-income communities, KeyBank has earned 11 “Outstanding” ratings from the Office of the Comptroller of the Currency (OCC), on the Community Reinvestment Act (CRA) exam. Key was the first U.S. national bank among the 25 largest to be rated Outstanding 11 consecutive times since the Act’s passage in 1977.
Read more about KeyBank’s commitment to corporate responsibility and community.
