KeyBank ranked No. 22 on the Fair360, formerly DiversityInc 2023 Top 50 Companies for Diversity list.
KeyBank Community Development Lending and Investment (CDLI) donated $46.4 million to construct new permanent supportive housing in Los Angeles, CA.
The funding helped build 2111 Firestone, a six-story complex of one- and two-bedroom apartments designed to serve families and individuals exiting homelessness. Forty-two units will be used for individuals earning no more than 30% of the Area Median Income (AMI). Forty-one units are dedicated for households earning no more than 50% of AMI.
KeyBank CDLI provided $19.7 million in federal and state LIHTC equity, a $21.4 million construction loan and a $5.3 million permanent loan.
Residents of the building will also have access to supportive services to help them stabilize and enhance their overall well-being, including mental health services, addiction/recovery services and assistance in strengthening independent living skills.
