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New York & Tri-State  + Uptown/Bronx  + Finance  | 
Homeward Central Harlem rendering

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.  

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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