KeyBank Provides $28.6M in Financing for Seniors Housing Development in New York

by Amy Works

ST. LAWRENCE COUNTY, N.Y. — KeyBank has provided $28.6 million in financing for Cambray Court Apartments, an affordable seniors housing redevelopment in St. Lawrence County. The redevelopment is in partnership with Omni Housing Development LLC and managed by United Helpers. The project will replace 72 flood-threatened, garden-style apartments with one accessible four-story energy-efficient building featuring 71 apartment units. Designated as affordable housing, the community will feature 52 units for residents earning 30 to 50 percent or less of the area median income (AMI); 13 units for residents earning at or below 60 percent of AMI; five units for residents earning 80 percent of AMI; and one unit for residents earning 90 percent of the AMI. On-site amenities include well-lit parking spaces, elevator access to each floor, laundry facilities, walking trails, a patio, a garden and a community room with a kitchen. The redevelopment project team includes Beardsley Architects and Engineers and Bette & Cring Construction Group.

You may also like