KeyBank Provides $14.2M Financing to Renovate, Preserve Affordable Seniors Housing in Buffalo, New York

BUFFALO, N.Y. — KeyBank Community Development Lending & Investment has provided $14.2 million in construction financing for the renovation of Riverview Manor and Piotr Stadnitski Gardens in Buffalo.

The project will be developed in partnership with Smith and Henzy Advisory Group and MDG Design + Construction. Existing project-based HUD Section 8 vouchers support the community.

The two-building property is comprised of 210 one-bedroom units for seniors. Riverview Manor, a 12-story building, was built in 1977 and underwent renovations in 1989. Stadnitski Gardens, an 11-story building, was built in 1978. Both buildings are serviced by elevators.

Kyle Kolesar of Key’s CDLI group arranged the financing. Alliant Capital and New York State HFA provided additional funding.