GREENVILLE, S.C. – Today’s grand opening of the Riley at Overbrook Apartments marked an exciting milestone in local efforts to increase and enhance the number of affordable housing options available to Greenville residents.
The new apartment community will feature 88 modern, affordable one, two, and three-bedroom units, strategically located just off Interstate 385 near vibrant downtown Greenville.
This brand-new affordable housing development, a partnership between Schaumber Development, Holliday Development, and the Greenville Housing Fund, serves families in Greenville with incomes ranging from 20% to 60% of the area median income.
Bryan Brown, President & CEO of the Greenville Housing Fund, said, “GHF is proud to be part of such a catalytic affordable housing development, partnering with Schaumber Development, the Greenville Housing Authority, the City of Greenville and the funding partners to deliver housing attainable to those with 20-60% of area median income. This is a real achievement and demonstrates the impact of public-private partnerships.”
Holly Douglas with Schaumber Development noted, “This project was a struggle to deliver as it was impacted by the pandemic, but all of our partners, including our financing partners, kept faith with the promise of the project and supported us to a successful outcome as you can see here today.”
Additionally, SC Housing played a crucial role by providing essential financing for Riley at Overbrook through its highly competitive 9% Low-Income Housing Tax Credit (LIHTC) program.
“The Riley at Overbrook exemplifies the City’s commitment to affordable housing,” said Mayor Knox White. “The City provided the subordinate funding that leveraged the housing tax credits and other sources of funding, while also supporting the development throughout the process.”
The Greenville Housing Authority awarded 19 housing vouchers, enabling families with limited income to reside at the Riley.
The Riley is comprised of two four-story garden-style residential buildings, set amid lush landscaping and ample parking. Residents will enjoy a lifestyle enhanced by modern finishes and amenities, including a business center equipped with computers, a flexible and dynamically programmed community room, a gym, and a laundry facility. It is located near downtown, employment centers, and schools. NHE will serve as the property manager, and supportive services will be available on-site.
About Greenville Housing Fund: In the almost seven years since its inception, GHF has invested over $21 million and leveraged $250 million in creating or preserving over 1,850 units of housing in Greenville County, many affordable to households living on as little as 30% of the area median income. Learn more at https://greenvillehousingfund.com.
