Greenville Housing Fund Acquires Century Plaza Apartments With $30.5 Million in JEDA Bonds
Greenville, SC — Greenville County
The Greenville Housing Fund is using a $30,500,000 bond issued by the South Carolina Jobs-Economic Development Authority (JEDA) to acquire and rehabilitate a 212-unit affordable workforce housing complex.
The tax-exempt Economic Development Revenue Bonds will be used to acquire and rehabilitate Century Plaza Apartments (previously named The Ivy Apartments) development located at 151 Century Drive in Greenville.
“Like many thriving communities, we have a growing shortfall of affordable housing here. We’re pleased to leverage such a favorable financing option as JEDA bonds to help address this need by buying and renovating Century Plaza Apartments.”
Bryan Brown, President and CEO for the Greenville Housing Fund
The Greenville Housing Fund a 501(c)(3) created in 2018 to partner with developers, local officials, and other stakeholders to preserve and grow the supply of affordable housing in Greenville County.
“We appreciate the Greenville Housing Fund and JEDA trusting us with helping guide them through the complexities of tax-exempt financing for this endeavor,” said Emily Luther, Bond Counsel with Parker Poe Adams & Bernstein LLP in Columbia.
“JEDA is pleased to support this vital need for South Carolina by assisting a community developer in securing the financing to provide critically needed affordable workforce housing,” said Jesse Smith, Executive Director of JEDA in Columbia.
