KEYBANK KeyBank Arranges $43.4 Million for Permanent Supportive Housing in Salt Lake City KeyBank Community Development Lending and Investment (CDLI) provided a $27.3 million construction loan on behalf of the Housing Authority of Salt Lake City (HASLC) to finance the rehabilitation and new construction of Permanent Supportive Housing and a subsidized apartment community in Salt Lake City. KeyBank’s Commercial Mortgage Group (CMG) also arranged permanent financing with a $16 million Freddie Mac 9% LIHTC forward commitment. The rehabilitation and new construction will consist of 218 units: • Sunrise Metro: Renovation of existing 100-unit, 4-story structure with the addition of 18 new units to the 2nd floor • Atkinson Stacks: New construction of 100-unit, 6-story structure “We sincerely thank KeyBank for supporting this transformative project,” Daniel Nackerman, executive director of the HASLC, noted. “The new and renovated housing will offer safe, affordable homes along with essential services that uplift residents. By promoting community and stability, we are making notable progress toward improving lives and strengthening neighborhoods in Salt Lake City.” Utah Banker 17
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