Business
KeyBank Arranges $43.4 Million for Permanent Supportive Housing in Salt Lake City
CLEVELAND, OH / ACCESS Newswire / January 23, 2026 / 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 ...
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[{"type":"text","content":"CLEVELAND, OH / ACCESS Newswire / January 23, 2026 / 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:","length":562,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Sunrise Metro - Renovation of existing 100-unit, 4-story structure with the addition of 18 new units to the 2nd floor","length":117,"tagName":"p"}]},{"val":[{"type":"text","content":"Atkinson Stacks - New construction of 100-unit, 6-story structure","length":65,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":182,"olType":false},{"type":"text","content":"Units are restricted at 25%-35% of area median income (AMI) across six studios and 212 one-bedrooms. The new building will include commercial space on the bottom floor to be occupied by Sacred Circle, a supportive services and case management provider. Sacred Circle will provide substance abuse counseling, employment, financial support and other services as needed. They will also operate a clinic and pharmacy.","length":413,"tagName":"p"},{"type":"text","content":"Unit amenities include kitchen range, refrigerator, laminate countertops, and vinyl floors. Property amenities currently in Sunrise Metro include a courtyard, garden, dog run, case management offices, supportive service spaces, and a food pantry. With the expansion and renovation, the HASLC is adding a gym, programmed outdoor spaces, a pharmacy, and a medical clinic to be staffed by Sacred Circle Healthcare, projected to have 12 full-time employees at the site.","length":465,"tagName":"p"},{"type":"text","content":""We sincerely thank KeyBank for supporting this transformative project," Daniel Nackerman, Executive Director, Housing Authority of Salt Lake City 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 towa...