Pelham Apartments Using $70.4 Million in JEDA Bonds for Affordable Housing

Greenville, SC — Greenville County

The Foundation for Affordable Housing is using a $70,447,500 bond issue through the South Carolina Jobs-Economic Development Authority (JEDA) to refinance a multi-family affordable housing development in Greenville County.

The nonprofit foundation will use the tax-exempt Economic Development Revenue Bonds refinance bridge financing used to purchase and renovate the 422-unit Pelham Apartments located at 230 Pelham Road in Greenville.

“JEDA bond financing is again making it possible for us to extend our ability to address the housing shortages in fast-growing communities across the Palmetto State.”

Mark Hiatt, President of the Foundation for Affordable Housing

The Foundation for Affordable Housing is an Omaha, Nebraska, based nonprofit which owns properties in Ohio, North Carolina, Iowa, Nebraska, Florida and South Carolina.

“We’re pleased to again work with JEDA and the Foundation for Affordable Housing to help the foundation take advantage of the best refinancing options available in this ever-changing market,” said Emily Luther, Bond Counsel at Parker Poe Adams & Bernstein LLP in Columbia.

“Affordable housing is a growing need in South Carolina. JEDA is proud to be a part of the solution by offering tax-exempt financing options for projects such as those carried out by the Foundation for Affordable Housing,” said Jesse Smith, Executive Director of JEDA in Columbia.