Greenville Housing Fund acquires 212 apartments units, to preserve affordable housing
GREENVILLE, S.C. (FOX Carolina) - The Greenville Housing Fund is investing $31 million into affordable housing. It’s the organization’s biggest investment yet. As housing becomes more and more difficult to obtain for lower income families this project offers options.
“I’ve had friends live in this complex with their young kids, single moms, and it’s been an affordable place for many years,” said Tina Belge, the Policy and Advocacy Director for the Greenville Housing Fund.
Now, Century Plaza Apartments will stay affordable. The Greenville Housing Fund closed the deal on a complex formerly known as The Ivy. The 212-unit complex is home to several low to moderate income families. It’ll soon open at least 20% of the units for people with housing vouchers.
“With an increase in demand in our area and a dwindling supply not even just affordable housing, but housing itself. It makes it hard for everybody to access housing, but it puts a deeper pressure on those who are lower income” said Belge.
Housing Authority issued voucher assistance is given to very low-income families, the elderly or disabled. And at any given time in Greenville, 150 to 200 voucher recipients are on a list, awaiting housing to become available.
“They’ve been approved, they’ve been through the process. they’re needing a landlord to accept that voucher” she said.
In addition to acquiring the property to preserve affordable housing, the housing fund is also setting aside $5 million for renovations.
“That’s what we’re looking to do here is keep this place affordable, and also improve the quality of life for people and make this even better complex than it already is,” Blege said.
The Greenville Housing Fund says they anticipate acquiring more affordable properties like this in the future, in order to preserve affordability, while also working to create more affordability.
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