Published Dec. 17, 2012
A 56-unit apartment development in Easley and seven, single-family homes in Greenwood recently received grants to support the costs of construction.
Of the Federal Home Loan Bank of Atlanta’s $13.6 million in grants awarded, three South Carolina affordable housing projects received roughly $717,000. These S.C. projects — in Greenwood, Easley and Lugoff — total 111 rental units and roughly $15.49 million in overall development costs.
Of the South Carolina grants, $83,320 will help fund construction of Mathews Place Phase II in Greenwood. This $835,945 development will have seven affordable, single-family homes available for rent. The development is located in a historic mill village and will be built under the EarthCraft green building program.
A $404,000 grant will help fund the construction of Pope Field Terrace in Easley, an affordable, 56-unit apartment development targeting low-income families. The roughly $8.01 million development will be certified as an Energy Star community.
A $230,118 grant will help fund construction of Bridle Station in Lugoff, located in Kershaw County. The 48-unit development will target low-income families. Energy saving features will be included in the design and construction. The $6.64 million development is already under construction.
Nationwide, the Federal Home Loan Bank of Atlanta recently awarded $13.6 million to assist in the funding of 43 affordable housing projects in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, Louisiana, Pennsylvania, Texas and the District of Columbia. These projects represent more than $271 million in total housing development.
Local for-profit and nonprofit developers, in partnership with the bank’s member institutions, will use the funds to assist in the acquisition, construction, rehabilitation or preservation of affordable rental and homeownership housing units.
“For more than 20 years, AHP (Affordable Housing Program) funds have created valuable opportunities for member institutions, developers and community groups to partner and invest in affordable housing and community economic development,” said Robert Dozier, the bank’s executive vice president and chief business officer, in a news release.
The grants are part of the bank’s 2012 Affordable Housing Program. The awards range from $33,660 to $500,000 per project. The program is a competitive funding program that helps develop owner-occupied and rental housing for low-to-moderate income families.
Federal Home Loan Bank of Atlanta awards the funds annually to member financial institutions and their community housing partners.