City Council commits long-term to affordable housing
September 28, 2023
City Council took steps to ensure its planned contribution to affordable housing extends into the next decade.
By unanimous vote, Council offered their support to the Greenville Housing Fund (GHF) for fiscal years 2026 to 2033 (subject to an annual Council appropriation). The resolution allows GHF to accelerate the development of affordable and workforce housing by entering into a $13.4 million loan agreement with Truist Bank, and potentially others, and leveraging the City’s annual contribution to repay the loan(s), starting in 2026.
“We will meet our goals for more affordable housing because of public- private partnerships,” Mayor Knox White said. “Few cities can do this, but Greenville can! We have the plan and the investment — the largest in South Carolina — to make it possible.”
Since 2017, the City has committed $17 million in financial support for GHF projects. GHF will use the added borrowing power to accelerate plans to build apartment communities in the City, such as Southernside Senior, Parkside Lofts at Unity Park and the Riley at Overbrook.
