City leaders have launched the nonprofit Greenville Housing Fund, and announced the availability of approximately $2 million in equity funding for the development of affordable and workforce housing within the city.
The concept of the Housing Trust Fund was recommended in the “Balancing Prosperity and Housing Affordability in Greenville” report drafted by a 25-member Steering Committee and adopted in early 2017 by City Council. City Council also appropriated $2 million in City funding along with a $1 million potential commitment from philanthropic, corporate and other charitable resources. The Housing Trust Fund will receive and disburse money to support the production and preservation of affordable housing units, and will invest in projects that can provide affordable housing for households with annual incomes between $15,000 and $55,000. The fund also has the ability to move beyond these limits as project and market conditions may allow.
The Greenville Housing Fund has three main goals:
- To advocate for and champion affordable housing in Greenville,
- To invest in affordable housing development, and
- To purchase land for affordable housing development.
The Greenville Housing Fund is being launched as a part of CommunityWorks, a non-profit financial organization committed to working with underserved families and communities by providing financial education, lending and investing.
Initially, the Greenville Housing Fund will invest in developments within the city limits, but eventually, the organization plans to work toward the promotion and provision of housing across and throughout Greenville County.
For more information on the application process, please visit the website at greenvillehousingfund.com/ or contact Hoy-Hawkins at [email protected].
(Photo by Peter Vanderwarker.)