KeyBank Provides $92.9 Million in Financing for 166-Unit Affordable Housing Development in Los Angeles
Key Highlights
- ➤KeyBank (KEY) provided $92.9 million financing for 166-unit affordable housing development
- ➤Financing includes $43.8 million construction loan and $18.1 million LIHTC equity investment
- ➤Key Commercial Mortgage Group arranged $31 million Fannie Mae MTEB permanent loan
- ➤KeyBanc Capital Markets underwrote $31 million public bond issuance
Expert Statements
Robert Likes, President of KeyBank Community Development Lending and Investment
“Los Angeles continues to face a significant shortage of affordable housing. Broadway & Imperial will bring 166 affordable homes to South Los Angeles, and we're pleased to provide financing for the development.”
Martin Muoto, CEO and founder of SoLa Impact
“Our mission has always been simple: invest in communities we know, create quality housing and help ensure long-time residents can continue to live in the neighborhoods they call home.”
Martin Muoto, CEO and founder of SoLa Impact
“Broadway & Imperial is exactly the kind of development Opportunity Zones were meant to encourage, and we're proud to partner with KeyBank to bring these new homes to South Los Angeles.”
CLEVELAND, OH / ACCESS Newswire / October 1, 2026 / KeyBank Community Development Lending and Investment (CDLI) (link) provided $92.9 million in financing for Broadway & Imperial, a new 166-unit affordable housing development in South Los Angeles. The financing package includes a $43.8 million construction loan and a $18.1 million federal Low-Income Housing Tax Credit (LIHTC) equity investment from KeyBank CDLI. Key Commercial Mortgage Group arranged a $31 million Fannie Mae MTEB permanent loan, and KeyBanc Capital Markets underwrote a $31 million public bond issuance as part of the financing structure.
Broadway & Imperial is being developed by SoLa Impact, a Los Angeles-based social impact real estate firm focused on creating and preserving affordable housing in underserved communities. Since 2013, SoLa Impact has focused on developing and preserving housing in South Los Angeles, particularly in neighborhoods that have historically lacked access to capital.
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