KeyBank Provides $6.1M Construction Loan for Affordable Housing Property in Syracuse

SYRACUSE, N.Y. — KeyBank has provided a $6.1 million construction loan to Harbor Street Lofts LLC, an entity sponsored by the Sutton Real Estate Cos. in partnership with Bentham Foundation. Proceeds of the loan were used toward the acquisition and rehabilitation of a four-story, historic industrial building in Syracuse’s Westside neighborhood. The borrower is transforming the property into a 40-unit mixed-income apartment property. Lynne Callis-Wilson of Key’s Community Development Lending arranged the financing for the borrower.