March 6, 2018

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Helping Clients & Communities Thrive: Affordable Housing At KeyBank

Helping Clients & Communities Thrive: Affordable Housing At KeyBank
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KeyBank provided construction financing to BRIDGE Housing Corporation for the development of 203 affordable housing units in the RiverPlace neighborhood of Portland, OR. Units will be dedicated to homeless veterans as well as families earning well below the Area Median Income.

Despite recent changes to the Low Income Housing Tax credit program, KeyBank’s Community Development Lending & Investing remains focused in 2018 on helping communities thrive. KeyBank supports affordable housing across all 50 states by providing capital for affordable housing and community development projects in urban and rural areas.

For example, housing for homeless veterans will be included in two projects recently financed in Portland, Oregon and Renton, Washington. These projects will also benefit families earning well below the area median income to rent or own homes.

In response to recent tax credit changes, creative affordable housing efforts will be important. KeyBank is one of a handful of affordable housing lenders with a platform that brings together balance sheet, equity, and permanent loan offerings. For its ability to lend to, invest in, and serve its communities –especially low-to-moderate income communities – KeyBank has earned eight consecutive “Outstanding” ratings from the OCC on the CRA exam.

Congratulations KeyCorp!