JEDA Issues $41.4 Million in Bonds for Atlantic Housing Foundation – Palmera Apartments
Columbia, SC — Richland County
The South Carolina Jobs-Economic Development Authority (JEDA) has issued $41,375,000 in Economic Development Revenue Bonds for the acquisition and improvement of a 240-unit apartment complex in Richland County.
The Palmera Apartments offers one-, two-, and three-bedroom apartments with a fitness center, pool, movie theater, coffee concierge, clubhouse and other amenities at its location at 1155 Clemson Frontage Road in northeast Columbia.
“We appreciate the ability to leverage JEDA bond financing as we expand the stock of safe, affordable, attractive housing options in this fast-growing neighborhood.”
Tim Cone, Director of Development & Acquisitions for the Atlantic Housing Foundation in Dallas, Texas
“Tax-exempt financing is critical to encouraging investment in growing the availability of this kind of ideally located and priced housing for working families. We’re pleased to be able to help,” said Emily Luther, Bond Counsel with Parker Poe in Columbia.
“JEDA is keenly aware of the growing need for affordable multi-family housing across the Palmetto State. We’re happy to assist with Atlantic Housing Foundation with this financing option, which brings favorable terms that make these projects possible and attractive to investors,” said Jesse A. Smith, Executive Director of JEDA in Columbia.
