Greenville Housing Fund announces over $800,000 in financing to three organizations

The Greenville Housing Fund (GHF) is pleased to announce that Habitat for Humanity, Homes of Hope and Bywater Development have been awarded a total of $863,000 in financing intended to build and restore over 100 homes for those in need within the City of Greenville.

With this financing, Homes of Hope plans to develop nine rental homes on scattered sites in several neighborhoods, while Habitat for Humanity will build six homes and develop seven rental homes with Homes of Hope on Jenkins Street in the Sterling neighborhood. Lastly, Bywater Development will rehabilitate Stratham Place, which will ultimately preserve 88 affordable rental homes. Stratham Place is located just off Poinsett Highway on Shaw Street.

“The vision of the Greenville Housing Fund is to enable thriving diverse neighborhoods throughout Greenville. This would not be possible without the support we have received from the City” says Bogue Wallin, Chair of GHF. The City of Greenville provided a $2 million grant to GHF to help capitalize a revolving loan fund to support the preservation and production of affordable and workforce housing in Greenville. “This grant will help us achieve our goals and ultimately provide affordable housing options for those that need it most in our community” says Wallin.

“We are honored to be selected to receive financing through GHF and are committed to helping create sustainable affordable housing in our community,” says Don Oglesby, CEO of Homes of Hope.

The City’s $2 million has leveraged philanthropic support and is catalyzing additional public and private partnerships that will influence housing policy, development and local investment. GHF continues to work with other development partners who hope to receive funding, as well as accept additional letters of intent for similar revitalization efforts. In the coming weeks, GHF plans to launch a fund to support housing preservation for existing homeowners and residents within neighborhoods that are impacted by gentrification.

ABOUT THE GREENVILLE HOUSING FUND

The Greenville Housing Fund was established as a result of the recommendations made in the “Balancing Prosperity and Affordable Housing” Report completed by the City of Greenville in 2016. City Council adopted the report and appropriated $2 million to establish the fund in January 2017.

The Greenville Housing Fund (GHF), operating as a wholly-owned LLC under CommunityWorks, Inc. supports the production and preservation of quality affordable and workforce housing that meets the needs of all Greenville residents regardless of income. The fund’s goals are to serve as an advocate and champion for affordable housing in Greenville, invest in affordable and workforce housing development, and acquire land for affordable housing development. 

GHF is committed to affordable housing issues and actively promotes policies that support the creation and preservation of affordable and workforce housing as well as work with for profit and nonprofit affordable housing developers to increase housing stock. Financial and technical assistance is available to affordable and workforce housing developers and local government entities through a variety of loans and development programs. GHF intends to be an innovative financier and advocate for affordable/workforce housing. Initial financing will include loan programs and land acquisition efforts with future products/programs to be developed by the GHF Board of Directors over the next several months.