New Initiatives for Affordable Housing in Greenville

News Summary

The Greenville Housing Fund is taking decisive actions to address the affordable housing deficit in Greenville County with new projects and funding initiatives aimed for 2025. Major milestones were achieved in 2024, including securing low-income housing tax credits for projects like Southernside Senior and The Alliance. Upcoming projects such as The Huddle at Sterling and the Villas at Southernside reflect a commitment to enhancing neighborhood-scale housing, while the introduction of the Greenville Community Home Trust aims to promote accessibility in home ownership. GHF’s efforts present a hopeful outlook for affordable housing in the community.

Exciting Moves for Affordable Housing in Greenville

Great news is coming out of Greenville! The Greenville Housing Fund (GHF) is stepping up its game and making waves in the world of affordable housing. Addressing the ongoing affordable housing deficit in Greenville County is no small task, but GHF is rolling up its sleeves and getting to work with some fantastic new projects and funding initiatives set for 2025.

Big Wins in 2024

In 2024, GHF hit a major milestone by securing low-income housing tax credits for two significant affordable housing projects: Southernside Senior and The Alliance. This type of funding can make all the difference when it comes to getting projects off the ground, and GHF isn’t stopping there. Just last November, the organization broke ground on the Southpointe Senior project, an impressive $23 million endeavor aimed at providing affordable housing for seniors.

At their annual meeting held on December 10, 2024, GHF showcased their plans to everyone who attended, which included around 100 elected officials, industry partners, and stakeholders from the community. With key figures like the mayor and county councilman present, the event highlighted the importance of the organization’s evolving roadmap and future aspirations.

Looking Forward: A Focus on Neighborhoods

GHF’s plans for the next year include a commitment to develop more neighborhood-scale affordable housing projects, fostering stronger communities throughout the county. One promising initiative is The Huddle at Sterling. This duplex project, costing $2.1 million, will provide ten mixed-income rental homes with a total of 18 bedrooms and is developed in partnership with The Sterling Land Trust. It’s an exciting step towards diversifying housing opportunities in the area!

Then there’s the Villas at Southernside, which will consist of 11 affordable townhome units on West Washington Street. This initiative, developed together with Homes of Hope, is made possible with donated land from the city of Greenville, demonstrating a collaborative effort aimed at tackling the housing shortage.

Community Home Trust and Future Projects

Looking ahead, GHF is set to introduce the Greenville Community Home Trust in 2025. This program is all about making home ownership more accessible by focusing on home acquisition, renovation, and providing deep subsidies for single-family homes. The ultimate goal here is to create paths for wealth building through shared equity, which can be a game changer for families in the community.

As part of their strategy, GHF is eyeing a $5 million grant from the U.S. Housing and Urban Development (HUD) through the Pro Housing Grant program. If successful, this funding could help GHF bolster its construction efforts and enrich community education and training initiatives, providing even more support for residents seeking affordable housing solutions.

Goals for 2025

Set goals for the upcoming year also encompass establishing a Resident Support Services program, aiming to round out the resources available for residents in need. On top of these exciting initiatives, GHF has proudly directed over $21.6 million towards affordable and workforce housing since its inception, demonstrating their commitment to the cause.

Not forgetting the broader mission, the Greenville Affordable Housing Coalition aims to make a significant impact by working to halve the affordable housing deficit. Their ambitious plan includes creating 10,000 new affordable units and preserving 3,000 existing affordable homes as part of their 2025 advocacy agenda.

A Bright Future Ahead

With all these fantastic developments and a clear focus on community needs, it’s apparent that GHF is dedicated to making a real difference for the folks in Greenville. There’s much hope for what’s to come as they continue to push for projects that provide affordable housing and help residents build a brighter future. Keep an eye on this space—exciting transformations are just around the corner!