KeyBank Provides $71.8M Construction Loan For Greenfield Commons Affordable Housing Project

KeyBank has granted a $71.8 million construction loan for Greenfield Commons Phase I, an affordable housing project located at 41206 Walnut Avenue in Greenfield, Salinas Valley. The loan will be used for the development of 99 family units, including 27 units specifically reserved for farmworkers. This financing package includes loans, bonds, and grants aimed at addressing California's affordable housing needs.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $71,800,000
• Lender: KeyBank Community Development Lending and Investment - Matthew Haas, Hector Zuniga, and Keven Ruf; KeyBanc Capital Markets - Ila Afsharipour
• Landlord: EAH Housing Inc - Laura Hall

This project is being developed by EAH Housing Inc and is supported by KeyBank Community Development Lending and Investment, as well as KeyBanc Capital Markets. Matthew Haas, Hector Zuniga, Keven Ruf, and Ila Afsharipour are involved in the lending process. Laura Hall represents EAH Housing Inc as the landlord for Greenfield Commons Phase I.