KeyBank Community Development Lending and Investment (CDLI) provided a $37.2 million construction loan, and Key Commercial Mortgage Group arranged a $28.8 million permanent loan to finance the new construction of Vita Lifestyle – Lafayette, a 198-unit affordable housing project located in Lafayette, Indiana. Vita Investment Holdings, LLC has partnered with CRF Affordable Housing, Inc. to develop the project. This partnership aims to expand affordable housing options for seniors across Indiana.
The project will consist of 159 affordable units and 39 market rate units, including one-bedroom, two-bedroom, and cottage-style units. Affordable units are restricted to seniors earning no more than 40%, 60%, and 80% of the area median income (AMI). Amenities will include community rooms, pet wash stations, sports courts, outdoor patios, and in-unit laundry.
