KeyBank Provides $46.4 Million for Permanent Supportive Housing in Los Angeles CA
- None.
- None.
CLEVELAND, OH / ACCESSWIRE / August 3, 2023 / KeyBank Community Development Lending and Investment (CDLI) provided
KeyBank CDLI provided
Of the 85 units, 42 units will be set aside for individuals exiting homelessness and earning no more than
The Prime Company, Domus Development and Kingdom Development will build the 85-unit complex at 2111 Firestone Blvd. in unincorporated Florence-Graham north of Watts. KeyBanc Capital Markets Group (KBCM) also sold
Supportive services will be available to all residents to help them stabilize and enhance their overall well-being. These services include intensive case management, mental health services, addiction/recovery services, employment and/or benefits advocacy; assistance in strengthening independent living skills and building a more comprehensive natural social support system.
The lead service provider, Housing Works (HW), will offer intensive case management using a housing first, trauma-informed approach to all tenants in the building.
Kortney Brown and Ted Witt of KeyBank CDLI structured the financing. Sam Adams of KeyBanc Capital Markets Public Finance Group provided the bond underwriting.
About KeyBank Community Development Lending and Investment
KeyBank Community Development Lending and Investment (CDLI) finances projects that stabilize and revitalize communities across all 50 states. As one of the top affordable housing capital providers in the country, KeyBank's platform brings together construction, acquisition, bridge-to-re-syndication, and preservation loans, as well as lines of credit, Agency and HUD permanent mortgage executions, and equity investments for low-income housing projects, especially Low-Income Housing Tax Credit (LIHTC) financing. KeyBank has earned 10 consecutive "Outstanding" ratings on the Community Reinvestment Act exam, from the Office of the Comptroller of the Currency, making it the first U.S. national bank among the 25 largest to do so since the Act's passage in 1977.
About KeyBanc Capital Markets
KeyBanc Capital Markets is a leading corporate and investment bank providing capital markets and advisory solutions to dynamic companies capitalizing on opportunities in changing industries. Our deep industry expertise, broad capabilities and unique ideas are seamlessly delivered to companies across the Consumer & Retail, Diversified Industries, Healthcare, Industrial, Oil & Gas, Real Estate, Utilities, Power & Renewables, and Technology verticals. With over 800 professionals across a national platform, KeyBanc Capital Markets has more than
About KeyCorp
KeyCorp's roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately
View additional multimedia and more ESG storytelling from KeyBank on 3blmedia.com.
Contact Info:
Spokesperson: KeyBank
Website: https://www.3blmedia.com/profiles/keybank
Email: info@3blmedia.com
SOURCE: KeyBank
View source version on accesswire.com:
https://www.accesswire.com/772069/keybank-provides-464-million-for-permanent-supportive-housing-in-los-angeles-ca
FAQ
Who provided the funding for the construction of new housing in Los Angeles?
How much money was provided for the project?
Who is the sponsor of the project?
How many units will be constructed?