KeyBank provided $36.3 million in financing for the new construction of Elevate at Aurora, a 137-unit family project in Aurora, CO. KeyBank Community Development Lending and Investment (CDLI) provided $30 million in LIHTC equity, including $5.5 million of Colorado State tax credit equity and $292,744 of Solar Tax Credit equity. KeyBank CDLI also provided a $6.3 million equity bridge loan. KeyBank Commercial Mortgage Group placed $31.245 million in private activity bonds through one of its capital markets investors, structured as a construction-to permanent-Tax-Exempt Loan (TEL). Elevate at Aurora will include low-income units for households at 30, 40, 50, 60 and 70 percent of area median income (AMI) in a mix of studio, one-, two- and three-bedroom units.
Related Posts
CSG’s Unlocking Opportunities: Innovations in Lending and Financing Workforce & Affordable Housing
Join the experienced Production Team at Churchill Stateside Group (CSG) for an insightful and informative webinar delving into various aspects of the current lending market.
TAT Honored by Preservation Mass. for Transforming Historic Landmarks
The Architectural Team announced that its founder, Robert J. Verrier, FAIA, NCARB, has been posthumously recognized with Preservation Massachusetts’ highest honor, the Paul & Niki Tsongas Award, given to people who have displayed the highest level of commitment to historic preservation.
SRM Closes on Rare Purchase of Two 14-Story Towers in First Hill; Permanently-Preserves More than 350 Workforce Housing Units
SRM announced the purchase of ‘The Mill at First Hill, two buildings in Seattle’s First Hill neighborhood, which will permanently preserve 358 units of workforce housing.
WinnCompanies Acquires Historic Hartford Community, Launches $18.7M Renovation
WinnCompanies announced the acquisition of 84 apartments grouped within ten three-story, residential buildings in Clay Arsenal, the oldest neighborhood in Hartford, CT.