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KeyBank Invests $10 million in Detroit's Housing for the Future Fund to Help Preserve and Create Affordable Housing

KeyBank Invests $10 million in Detroit's Housing for the Future Fund to Help Preserve and Create Affordable Housing

Published 01-24-22

Submitted by KeyBank

Mayor Duggan of Detroit speaking from a podium. KeyBank LISC banner is behind him. Two males and two females stand behind him to the left and right.

Watch the video originally published on FOX2

KeyBank Community Development Lending and Investment (CDLI) is investing $10 million toward the creation and preservation of affordable housing in the city through the Detroit Housing for the Future Fund (DHFF). Representatives from KeyBank and the Local Initiatives Support Corporation (LISC) joined Detroit Mayor Michael Duggan at an announcement on January 12, 2022.

The DHFF, which was announced by Mayor Duggan in 2020, represents the largest single private commitment to affordable housing in Detroit’s history. The DHFF is a private investment fund managed by LISC Detroit and LISC Strategic Investments that is committed to investing private capital into affordable housing projects in need of gap financing to move the developments forward. The DHFF is a part of the larger Affordable Housing Leverage Fund, which is an initiative of the City of Detroit’s Housing & Revitalization Department.

For more information:

Watch the video on FOX2 here

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KeyCorp's roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $176.2 billion at March 31, 2021. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,100 branches and more than 1,400 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit KeyBank is Member FDIC. 

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