JEDA Issues $77 Million in Bond Funding for Affordable Workforce Housing in Columbia
Columbia, SC — Richland County
Affordable Housing Partners is using a $77,371,193 bond issued through the South Carolina Jobs-Economic Development Authority (JEDA) to finance a new affordable workforce housing community in Columbia.
The proceeds of the bond will be used to finance costs to acquire, construct, and equip the Silver Station Apartment Homes, a 240-unit apartment community with a clubhouse, pool, playground, and other recreational areas on Farrow Road in the capital city.
“We’re pleased we were again able to access JEDA financing to help us expand the availability of critically needed affordable workforce housing for people living and working in Columbia, South Carolina,” said Doug Boggs, Executive Vice President and Chief Financial Officer of developer Pedcor Companies and Board Treasurer for non-profit Affordable Housing Partners, both based in Carmel, Ind.
“Bond issuances are a complicated process and we’re gratified that we were able to assist Affordable Housing Partners and their partners in this financing endeavor,” said Michael Seezen, Bond Counsel with Burr & Forman LLP in Columbia.
“Tax-advantaged financing for affordable workforce housing is particularly crucial in today’s economic environment. JEDA is pleased to again work with committed developers to help provide such options here in the Palmetto State,” said Jesse Smith, Executive Director of JEDA in Columbia.
