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NORWALK, Conn. — KeyBank Real Estate Capital has provided $12.4 million in FHA financing for Cedar Court Apartments, a 91-unit affordable seniors housing community in Norwalk.
At least 40 percent of the community’s units will be reserved for seniors earning less than 60 percent of the area median income. Additionally, 45 units will feature rents that are subsidized through the Section 8 Housing Assistance Payments program.
Jeff Rodman of Key’s Commercial Mortgage Group and Kelly Frank of Key’s Community Development Lending and Investment Group arranged the financing, which will be used to rehabilitate the property.