PORTLAND, OR / ACCESSWIRE / November 4, 2022 / KeyBank has announced a $400,000 donation to Proud Ground-its largest single gift ever in Oregon and southwest Washington. The gift will support Proud Ground's Opening Doors Initiative, which aims to expand the organization's portfolio of permanently affordable homes from 350 to 550 over the next five years. At least 75% of the 200 new homeownership opportunities will benefit families identifying as Black, Indigenous, or People of Color (BIPOC), and every family served will be below 80% median income. In all, approximately 600 people will be supported through Opening Doors.
Proud Ground creates affordable homeownership opportunities using the Community Land Trust model to ensure multi-generational stability. Through this effort, Proud Ground strives to create a livable, equitable and economically viable community where every family has access to affordable homes in the community of their choice.
"For many years KeyBank has been an avid champion of Proud Ground's proven model, and we are delighted to dramatically accelerate our support with this new grant," said Josh Lyons, KeyBank's market president for Oregon and S.W. Washington and commercial banking leader. "Our mission is to help our communities thrive, and nowhere is that more important than in underserved populations who have historically lacked access to the opportunity to build wealth through homeownership."
"Many thanks to KeyBank Foundation for embracing Proud Ground's work to make homeownership a reality for more Oregon families, especially BIPOC families who have historically been denied access to homeownership," says Proud Ground Executive Director Diane Linn. "KeyBank's donation puts the Opening Doors initiative over halfway to its $5 million goal. We are tremendously grateful."
About Proud Ground
Proud Ground is the Pacific Northwest's largest provider of permanently affordable homeownership opportunities. Founded in 1999, the Portland-based non-profit organization has helped over 520 Oregon families become first-time homeowners through its innovative community land trust model. Proud Ground helps families with lower to moderate incomes access homebuyer education and down-payment support to qualify for a traditional mortgage and purchase a home that they can afford. The organization serves working families who are first time homebuyers, with a strategic goal to prioritize households of color who have historically faced inequitable housing practices.
KeyCorp's roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $187.0 billion on June 30, 2022. 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 1,300 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 is Member FDIC.
View source version on accesswire.com: