The KeyBank building at 23rd St. and Union Ave. has been purchased by nonprofit developer Capitol Hill Housing who will turn it into "mixed-use and affordable housing." The developer made the announcement on Wednesday.
The bank, which is still in business, will operate there through April before being consolidated into other local branches. It will be the first time since the building opened in 1968 that it will not be a bank. There's currently no timetable for when the project will begin.
This project joins other recent Capitol Hill Housing rescues such as The Jefferson at 12th and Jefferson and the 12th Ave Arts building. Capitol Hill Housing owns and operates nearly 1,200 affordable apartments in 44 buildings throughout the city.
· KeyBank at 23rd/Union to be redeveloped as affordable housing [Central District News]