New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
KeyBank CDLI Provides Funds to Develop Housing for Homeless Youth
KeyBank Community Development Lending and Investment (CDLI) has provided $16.3 million to develop Homeward – Central Harlem at 15 W.118th St. The 51-unit property will exclusively serve unhoused youth between the ages of 18 and 25, a vulnerable underserved demographic in New York City, in an LGBTQ-affirming community.
KeyBank provided a $12.8-million construction loan and $3.5-million permanent loan through Freddie Mac to Type A Projects and Azimuth Development Group. The project will receive $14.3 million of low-income housing tax credit equity, $2.5 million of subsidy through New York State and a $1.8-million grant from Enterprise Community Partners.
“We are deeply committed to helping underserved populations and are proud to partner with Type A Projects and Azimuth Development Group to build new, safe and decent affordable housing in an environment that is affirming for the over 40% of homeless youth who self-identify as LGBTQ,” said Rob Likes, national manager of KeyBank CDLI.
- ◦Development
- ◦Financing

