Business
KeyBank Provides $10.1 Million Construction Loan for Senior Affordable Housing in Arizona
CLEVELAND, OH / ACCESS Newswire / January 27, 2026 / KeyBank Community Development Lending and Investment (CDLI) provided a $10.1 million construction loan on behalf of Chicanos Por La Causa (CPLC) to finance the acquisition and rehabilitation of ...
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[{"type":"text","content":"CLEVELAND, OH / ACCESS Newswire / January 27, 2026 / KeyBank Community Development Lending and Investment (CDLI) provided a $10.1 million construction loan on behalf of Chicanos Por La Causa (CPLC) to finance the acquisition and rehabilitation of Casa del Pueblo, a 9% LIHTC, 96-unit fully subsidized senior affordable housing property in Tucson, Arizona.","length":355,"tagName":"p"},{"type":"text","content":"All the units are one bedroom and restricted to 40% area median income (AMI). The units are 100% occupied and the current tenants will not be displaced. Casa del Pueblo was originally constructed in two phases, one building in 1997 with 58 units and the other in 2011 with 38. The buildings feature three community rooms, fitness equipment, a computer room, lawn space with picnic area and a ramada with a barbecue. Services from the CPLC Healthy Aging program, such as congregate meals and health resources, are available for Casa del Pueblo residents to foster social, emotional, mental, and physical well-being.","length":614,"tagName":"p"},{"type":"text","content":"CPLC is a non profit community development corporation with a 56-year history of empowering lives through more than 30 different programs across Arizona, California, Colorado, Nevada, New Mexico, and Texas, including efforts in affordable housing and community development with over 3,000 units under management. KeyBank CDLI closed a different construction loan for CPLC in early 2025.","length":386,"tagName":"p"},{"type":"text","content":"Matthew Haas from KeyBank CDLI structured the construction financing. Permanent financing was provided by the City of Tucson through HOME Investment Partnership Program (HOME) Funds, the State of Arizona through the Arizona Housing Trust Fund, and Rocky Mountain Community Reinvestment Corporation (RMCRC). The National Equity Fund (NEF) provided LIHTC equity.","length":360,"tagName":"p"},{"type":"text","content":"About KeyBank Community Development Lending and Investment","length":58,"tagName":"p"},{"type":"text","content":"KeyBank Community Development Lending and Investment (CDLI) finances projects that stabilize and revitalize communities across all 50 states. As one of the top affordable housing capital providers in the country, KeyBank's platform brings together construction, acquisition, bridge-to-re-syndication, and preservat...