KeyBank Provides $12M for Affordable Housing Development in Niagara Falls

by Amy Works

NIAGARA FALLS, N.Y. — KeyBank has provided $12 million in capital to help develop Niagara City Lofts in Niagara Falls. The adaptive reuse project will convert an existing vacant public high school building, which was built in 1923, into 61 units of workforce housing, affordable housing, market-rate apartments and commercial community space. The project is being funded in partnership with the NYS Housing and Community Renewal Division, NYS Empire State Development Corp. and RBC Tax Credit Equity. Rob Likes and Joe Eicheldinger of KeyBank secured the financing for the borrower.

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