Two new affordable housing units have been unveiled in the Nicholtown community.
Residents of the neighborhood, city staff, lawmakers and other community members came together for a ribbon cutting for the two new affordable housing units, located on Cowan Court, which were built to serve families at 60% Average Median Income (AMI).
The city of Greenville’s Community Development Division Home Investment Partnership Program (HOME) provided $235,000 to develop the units. United Bank provided the balance of the development funds at $127,000. Additionally, the city donated the land on Cowan Court, which was vital in reducing costs, according to Beth Brotherton, who handles media relations with the city.
The agreement requires the units to be limited to those at 60% AMI or below for the next twenty years.
“We are grateful to the city of Greenville and to United Bank for their contributions. It is partnerships like these that have helped UHC provide more than 140 units of affordable housing in our community over the last 20 years,” said United Housing Connection CEO Lorain Crowl.
Over the last five years, the city of Greenville has invested $10.5 million in affordable housing, with another roughly $14 million planned in the next five years. The Greenville Housing Fund (GHF) is also leveraging city funds to accelerate investment in affordable housing up to $33 million.