KeyBank Invests $10 Million in the Detroit Housing for the Future Fund

Originally published on LinkedIn. KeyBank ranked No. 23 on The DiversityInc Top 50 Companies for Diversity list in 2021.

 

KeyBank has a deep commitment to the communities where they work and live, and is excited to announce their $10 million investment in the Detroit Housing for the Future Fund. This investment will go toward building and preserving affordable housing in Detroit.

Amelia Benavides-Colón of The Detroit News reported, “The KeyBank contribution is the second-largest committed so far to the fund that aims to preserve 10,000 units of existing affordable housing in Detroit and to develop another 2,000 units.”

KeyBank’s donation has helped Detroit reach $65 million of its $75 million goal.

“Helping communities thrive is not just our business but it’s our mission,” said Derek Reed, Vice President of Community Development Lending and Investment. “This is a fund that we had to be a part of. It truly represents the transformational and generational opportunity for the city and LISC and all of us at KeyBank are very proud to be a part of this.”

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