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KeyBank provides $12.1 million in financing for Elim Townhomes

KeyBank has provided $12.1 million in financing for Elim Townhomes on Holden Street in Buffalo.

The 2-acre property will feature 30 townhome units, available to households earning 50 percent of the area's median income.

Key's financing consists of a $5.4 million construction loan and $6.7 million in 9 percent tax equity to Belmont Housing Resources for Western New York. Belmont is partnering with Elim Christian Fellowship on the project.

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