Greenville’s Housing Authority announced on Nov. 9 that it has completed an $8.4 million acquisition of four affordable‑housing communities in the historic Nicholtown neighborhood. The purchase protects 432 units from conversion to market‑rate rentals once the Low‑Income Housing Tax Credit compliance period ends.
Acquisition details
The authority bought two of the complexes—Nichol Town Green and Clark Ridge—using financing from United Community Bank. The remaining two properties, Forest View and Evergreen Place, were funded with the authority’s unrestricted development reserves. By keeping all four sites under public ownership, the agency ensures that low‑income families will continue to have safe, stable housing in Greenville.
Mission‑driven preservation
“As an agency, preserving current affordable housing units is our mission,” said Matt Grandy, board chairman of the Greenville Housing Authority. Grandy added gratitude to United Community Bank for its role in making the preservation possible. The authority already manages the day‑to‑day operations of the four communities, and residents can expect no change in service as a result of the acquisition.
Why it matters for families
Affordable housing is a cornerstone of strong, traditional families. By preventing the loss of 432 units, the authority helps parents keep stable homes for their children, supporting the values that keep neighborhoods thriving. The move also aligns with the broader goal of protecting the most vulnerable residents from the rising cost of market‑rate rentals.
Community impact
Local leaders and faith‑based groups have praised the acquisition as a concrete step toward safeguarding the well‑being of Greenville’s families. The preservation effort demonstrates how public‑private partnerships—like the one with United Community Bank—can deliver results that reflect both fiscal responsibility and a commitment to community welfare.
Looking ahead
The Greenville Housing Authority plans to continue its focus on preserving and expanding affordable housing stock throughout the city. Future initiatives may include leveraging additional financing tools and collaborating with local businesses to ensure that low‑income families have access to safe, affordable homes for generations to come.
Original reporting: Greenville Journal — read the source article.
