Mt. Vernon, NY KeyBank Community Development Lending & Investment (CDLI) has provided a $4.4 million Fannie Mae loan to Mt. Vernon Associates, LP, to renovate Greencourt Apartments, a 76-unit, multifamily affordable apartment complex. The subject property consists of 59 units reserved for tenants earning no more than 60% AMI.
The property was constructed in 1926 and received LIHTC funding to help finance a substantial renovation in 1997.
John Gilmore IV and Jeff Rodman of KeyBank’s CDLI team arranged the financing.