JEDA Financing Helps Facilitate Affordable Housing Complex, The Bluffs Apartments, in Spartanburg

Spartanburg SC — Spartanburg County

The Pedcor Companies and Affordable Housing Partners, both of Carmel, Ind., are using a $17,365,600 bond issue through the South Carolina Jobs-Economic Development Authority (JEDA) to create a new affordable workforce housing apartment community in Spartanburg.

The tax-advantaged Economic Development Revenue Notes will be used to acquire, renovate and equip The Bluffs Apartments, a 144-unit community that includes a swimming pool, playground, and other recreational areas on the site at 100 Vanderbilt Lane.

“We appreciate being able to use JEDA bonds and our partnership with AHP to help us expand affordable housing options for working families in South Carolina.”
— Doug Boggs, Chief Financial Officer for Pedcor Companies

“Pedcor and AHP are helping to meet the need for this type of housing option in South Carolina and across the country, a need that’s only grown more acute during the pandemic. We’re privileged to help them through the financing process,” said Michael Seezen, Bond Counsel with Burr & Forman LLP d/b/a Burr Forman McNair in Columbia.

“Housing is just one of the many types of qualifying projects that JEDA has supported with favorable financing options, and we’re pleased to work with Pedcor on this project,” said Harry A. Huntley, CPA, Executive Director of JEDA in Columbia.