KeyBank Provides $7.5M Construction Loan for Supportive Housing Complex in Northwest Indiana

GARY, IND. — KeyBank, in partnership with TWG Development LP, has provided a $7.5 million construction loan for Village of Hope Apartments, a 40-unit supportive housing complex in Gary. The three-story building will target individuals and families whose household income is 30 to 60 percent of the area median income and will provide housing to people who are homeless or at risk of becoming homeless.  Village of Hope Apartments will consist of 21 one-bedroom units, 17 two-bedroom units and two three-bedroom units.  The project will benefit from a Section 8 Housing Assistance Payments contract that will provide subsidized rents for all units. Kelly Frank of KeyBank arranged the financing.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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