KeyBank Provides $10 Million for Seniors Affordable Housing in Cleveland Heights, OH - Seite 2

"Since our founding in 1908, Benjamin Rose Institute on Aging has worked to ensure that older adults have a place to call home," said Orion Bell, President and CEO, Benjamin Rose Institute on Aging. "Margaret Wagner House has been part of that legacy since 1960 and we are excited to see the property evolve to meet the changing needs of the people we serve and the neighborhoods in which they choose to live. We are grateful for KeyBank's investment in this project and the community."

"We are thrilled to be working with Benjamin Rose and CHN Housing Partners to provide affordable housing for our seniors," said Derek Reed, Vice President, KeyBank CDLI. "KeyBank is committed to the communities we serve, and this investment is a key part of our efforts to build on the success of our National Community Benefits Plan."

Derek Reed structured the tax credit equity investment and Tara Miller served as the Underwriter for the transaction.

About Benjamin Rose Institute on Aging

Founded in 1908, Benjamin Rose Institute on Aging is a Cleveland-based nonprofit whose mission is to support caregivers and empower all people to age well through research, consumer-responsive services, and client advocacy. Our work is accomplished by deepening the understanding of their evolving needs in a changing society; developing and delivering innovative, high-quality solutions; and promoting effective public policies. The following programs and subsidiaries operate together to fulfill our mission: Eldercare Services Institute, LLC; Rose Centers for Aging Well, LLC; Empowering and Strengthening Ohio's People (ESOP); Margaret Wagner Apartments; Center for Research and Education; and Community Advocacy. For more information visit:www.benrose.org.

About CHN Housing Partners

Founded in 1981, CHN Housing Partners is a large-scale affordable housing developer, housing service provider and residential lender that works with its partners to solve major housing challenges for low-income people and underserved communities in Ohio, Michigan, Pennsylvania, and New York. CHN partners with utility companies, financial institutions, and public agencies to manage and deliver large-scale housing resources. CHN also partners with people-low-income individuals, families, seniors, the disabled and the homeless-to improve their housing stability. CHN's impact in Cleveland includes 3,200 new homeowners, the housing stability services it provides annually to more than 50,000 individuals, and the development of 7,000 new homes. CHN is a chartered member of the NeighborWorks America network. http://www.chnhousingpartners.org