The Post and Courier (Greenville) just published an article about Grace Church’s purchase of a student housing complex from Greenville Technical College with plans to convert it into 121 affordable rental units.
…”The church closed on the roughly $16 million deal May 4 and expects the first tenant to move in around June. Grace is taking on debt to fund the project…
Purchasing the complex represents a major expansion of the church’s existing affordable housing ministry, Front Porch Housing. The church currently assists with rent at about 40 homes in Greenville County through partnerships with landlords. It plans to end those contracts and consolidate its efforts at the new property, roughly tripling its affordable units. The tenants currently in the program will be moved to the complex once it’s up and running…”
Photo (by Conor Hughes) copyright: The Post and Courier