Like many communities across the nation, Greenville County is facing an extreme housing shortage, along with skyrocketing rents and home-sales prices. To jumpstart financing for the development and preservation of sorely-needed affordable and workforce housing, Greenville Housing Fund (GHF) launched the Impact Fund. Bryan Brown, GHF’s President and CEO, described the Impact Fund as “catalytic” in its ability to leverage both private-sector financing and public investment for new housing. GHF manages the approximately $5 million fund pool of revolving investment committed in exchange for a small guaranteed return over a term of about five years.
As one of the early investors in the Impact Fund, the Community Foundation of Greenville would like to share some updates on Impact Fund projects:
- GHF closed on the financing of Vinings at Brushy Creek, a $25 million new development of mixed income, affordable, and workforce housing located in Greer. The groundbreaking ceremony took place on Wednesday, September 21st, 2022.
- GHF is working hard to build affordable, mixed income units adjacent to Greenville’s new Unity Park. These projects will deliver much needed affordable and workforce housing near downtown, the Swamp Rabbit Trail, and Unity Park providing diverse housing options.
- GHF acquired Vista West, a 124 unit multi-family apartment complex in the Berea community, in the spring of 2021 and significant interior and exterior renovations have improved the units to provide a safe, updated, and quality place to live.
The above picture shows an already constructed property that will look similar to the Vinings at Brushy Creek complex.
To learn more about the Greenville Housing Impact Fund, click here.