BUFFALO, NY / ACCESS Newswire / June 18, 2025 / Funding will provide home repair grants to low-income residents in WNY through the "Key to Healthy Homes Initiative"
The KeyBank Foundation is investing $750,000 to support efforts to make homeownership more sustainable, safe and affordable through Belmont Housing Resources for WNY, Inc. This funding will help launch Belmont's new "Key to Healthy Homes Initiative" (KHHI) program, which will provide home repair grants to low-income residents of Buffalo's East Side at or below 80% of Area Median Income.
"Efforts that make homeownership more affordable and sustainable strengthen our neighborhoods and help them grow and thrive. The Key to Healthy Homes Initiative will have a transformative effect on families and communities across Buffalo and Western New York," said Michael McMahon, KeyBank Buffalo Market President. "KeyBank is proud to partner with Belmont Housing and support their work to lift up and make a difference in the communities we proudly call home."
Belmont's mission is to expand affordable housing opportunities throughout Western New York. As a leading advocate for quality affordable housing, the nonprofit provides services to over 15,000 low-income households, generating over $30 million in rental assistance payments to property owners annually. The KHHI program will help Belmont expand efforts to provide more funding for home repairs in the areas in serves.
"KeyBank has been a long-standing partner to our team at Belmont Housing, and they have consistently demonstrated their commitment to making strategic investments here in Western New York. We face unprecedented challenges with housing affordability at this time and the funding through this initiative will prove critical to rehabilitating our housing stock, sustaining homeownership for City residents, and improving living conditions for families," said Brad Packard, Incoming President for Belmont Housing Resources for WNY, Inc. "We applaud this effort by KeyBank and truly appreciate this opportunity to better assist residents on the East Side of Buffalo."
"This program's impact will be far reaching in that it will support the stabilization of neighborhoods through improved housing stock, helping homeowners build intergenerational wealth and helping seniors age in place," said Chiwuike Owunwanne, KeyBank Buffalo Corporate Responsibility Officer. "We are excited to provide this assistance to support Belmont and look forward to seeing the transformative impact this investment will have in our communities for years to come."
"Across Masten District and across the city, we have some of the nation's oldest housing stock and thousands of homeowners who struggle to make ends meet. When these folks are scrapping together just to pay the bills and necessities, four- or five-figure home repair projects are simply not within reach. As a result, far too many of our neighbors are exposed to contaminants like lead and asbestos in the home, unsafe housing conditions, and energy inefficiencies that raise utility costs and affect our environment," said Masten District Common Council Woman Zeneta Everhart. "I applaud the KeyBank Foundation for stepping up with $750,000 to help local families protect their health, improve their homes, and invest in our communities. This funding will be truly transformational for families and neighborhoods, and I urge eligible households to take advantage of this opportunity."
Since 2017, KeyBank has made more than $1.5 billion in investments in Buffalo and Western New York, supporting affordable housing and community development projects; small business and home lending to low-to-moderate income individuals and communities, and transformative philanthropy.
Homeowners interested in applying to the KHHI program can contact Belmont Housing Resources for WNY, Inc. Senior Housing Rehab Program Manager Eric Schiffman at (716) 884-7791.
ABOUT KEYCORP
In 2025, KeyCorp celebrates its bicentennial, marking 200 years of service to clients and communities from Maine to Alaska. To learn more, visit KeyBank Heritage Center. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $189 billion at March 31, 2025.
Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,200 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit?https://www.key.com/. KeyBank Member FDIC.
ABOUT BELMONT HOUSING RESOURCES FOR WNY, INC.
Originally established in 1977 to administer federally funded Section 8 rental assistance programs, Belmont Housing Resources for WNY, Inc. (Belmont) has grown to be a full-service housing agency with a mission to expand affordable housing opportunities in Western New York by assisting low- and moderate-income households to obtain housing by producing and preserving housing units and by professionally managing affordable housing. Belmont also consults with municipalities and other non-profits on housing development and offers a broad menu of housing counseling services and financial capability programs. Belmont has 47 years of housing experience and became a HUD Certified Housing Counseling Agency in 1999. At Belmont, we believe that lives are changed when families and individuals have a safe, healthy, and affordable place to live and grow.
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SOURCE: KeyBank
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/banking-and-financial-services/keybank-foundation-supports-affordable-sustainable-housing-with-a-75-1040919
