KeyBank Community Development Lending and Investment (CDLI) provided a $58 million construction loan to finance the new construction of an affordable multifamily housing property in Palmdale, California. This significant investment underscores KeyBank's commitment to expanding affordable housing options.
The financing will support the development of much-needed housing units, contributing to community stability and economic opportunity in the region. This project aligns with KeyBank's broader mission to foster resilient and inclusive communities.
KeyBank's continued involvement in such large-scale affordable housing initiatives reinforces its role as a leading provider of capital for community development across its operating footprint. This investment further strengthens its lending portfolio in California.
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