Greenville Housing Fund creating affordable homeownership initiative

 

Greenville Housing Fund creating affordable homeownership initiative

GREENVILLE, S.C. (HERE News Network) – The Greenville Housing Fund is tasked with addressing the need for affordable housing in the county. Inflation and housing costs continue to be a hurdle for many families and for the nonprofit on their quest to create more options. GHF has always worked to create and preserve affordable rental options. This new home trust program is addressing the lack of opportunities for some people looking to buy a home. Libba King, the Vice President of Real Estate & Capital Markets with GHF, says the lack of affordable homeownership options is not unique to Greenville. “Incomes are not keeping pace with home costs and it’s increasingly pricing out essential workers from owning homes,” she said.

Community Home Trust Program

So, they’ve created a Community Home Trust. Essentially, a collection of homes bought by GHF, renovated and sold to income-qualified families at an affordable price. “The goals of the program are really threefold: to provide a permanent and growing supply of affordable single-family homes for Greenville essential workers, create avenues of wealth building,” said King. Also, to lessen the need for government financial assistance to create affordable options. They are targeting rapidly gentrifying areas of Greenville like Haynie Sirrine, Judson, San Souci, Poe Mill, and others. GHF will partner with credit unions, lenders, realtors, and non-profits to make it work.

Increasing Affordable Housing Inventory

The goal is to have 5 homes ready for sale by the end of this year—eventually, King would like to see that number grow to greater than 50. “The need for affordable housing is getting greater every day, so being able to address that in a permanent stance today looking into tomorrow five years 10 years it’s really powerful and I think it will be a great success for Greenville,” she said.

Copyright 2024 HERE News Network. All rights reserved.

Author: HERE Greenville

HERE Greenville

Recent Posts

Scout Motors Launches Electric Vehicles at New $2 Billion South Carolina Plant

COLUMBIA, SOUTH CAROLINA — Scout Motors Unveils First EVs at $2 Billion Plant Excitement filled…

11 hours ago

Rhesus Macaques Escape from Research Facility in Yemassee, South Carolina

Yemassee, South Carolina: Rhesus Macaques on the Loose In Yemassee, South Carolina, a remarkable incident…

11 hours ago

Jacksonville Men’s Basketball Faces Heartbreaking Loss to Furman in Road Game

Greenville Suffers Tough Loss as Jacksonville Falls to Furman Greenville, S.C. – The Jacksonville men’s…

12 hours ago

Furman University Cancels Football Game Against Samford Due to Hurricane Helene

Travelers Rest, S.C. – Furman University Cancels Football Game The furman paladins football game against…

12 hours ago