KeyBank Foundation, the charitable arm of KeyBank, has awarded a $133,333 grant to Portland-based Avesta Housing to promote housing development for low-income older Mainers and support education and counseling programs for first-time homebuyers and homeowners facing the threat of foreclosure.

Part of the donation will promote expanded access to safe, clean and affordable senior housing, enhanced resident services and investment in existing Avesta properties. The nonprofit housing developer and owner leases apartments to 1,500 seniors and received 1,600 additional requests for affordable senior housing in 2018.

Some of the grant will support counseling and education classes for first-time homebuyers and homeowners facing the threat of foreclosure that are offered through Avesta’s NeighborWorks HomeOwnership Center. Since 2008, the center has assisted more than 5,000 people through community-based classes in homebuyer education and foreclosure mitigation and budget/credit counseling.

“This multi-generational approach will make great strides in improving our community’s financial stability and ability to live in safe, quality, affordable homes,” said Avesta President & CEO Dana Totman. “We’re very grateful for KeyBank’s shared commitment to partnering with us to improve lives and strengthen communities here in Maine.”

The grant is part of KeyBank’s $16.5 billion National Community Benefits Plan, which includes investments in affordable housing and development, small business and job development, residential mortgages for underserved communities, and transformative philanthropy across the bank’s 15-state network.

“Safe, affordable housing for all is a key ingredient for a healthy community and the financial wellness of its residents,” said KeyBank Market President Raymond Kelley. “We are proud to support Avesta’s work in providing sustainable housing options to both seniors and first-time homebuyers.”

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