KeyBank Lends a Helping Hand in Washington

AVS Communities received more than $95 million in tax-exempt bond financing to create nearly 600 affordable housing units in the state.

Villas at AuburnVillas at Auburn

Cleveland, Ohio—AVS Communities, a real estate development company active in the greater Seattle and Puget Sound region, recently received $95.2 million in tax-exempt bond financing from KeyBank’s Community Development Lending & Investing (CDLI) group to create more affordable housing in the area.

The California-based developer will use the financial help for the Villas at Auburn and the Reserve at Auburn, two multifamily projects that will bring on the market a combined 592 units of affordable housing for residents making 60 percent or less of the area median income. Both projects, which are part of a 19-acre parcel near the Auburn Transit Center, are scheduled for completion in 2018 and will be managed by Indigo Real Estate Services…

KeyBank Lends a Helping Hand in Washington

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