History & Future of Affordable Housing
The City of Greenville supports the Greenville Housing Fund, launched in 2018, with appropriations approved by City Council. The Greenville Housing Fund is a non-profit corporation that leverages city funds - $10.5 million as of June 30, 2022 - with $310 million other public and private contributions to date to produce and preserve affordable housing.
The creation of the Greenville Housing Fund came after a year-long affordable housing study, which resulted in the "Balancing Prosperity and Housing Affordability in Greenville" report. The report included a recommendation to create a Housing Trust Fund to receive and disburse money to support the production and preservation of affordable housing units.
*Total investment to Greenville Housing Fund since its inception in 2018
GHF has invested just under $6 million on the production and preservation of 800 units of affordable and workforce housing in the City of Greenville, leveraging $165 million of total development. This also includes the acquisition of land in GHF’s land bank for future affordable housing. GHF is deploying another $7 million on the development of 650 units of affordable and workforce homes leveraging $145 million in total development.
In 2020, GHF & Greenville County Redevelopment Authority released their city and county-wide strategic plan focused on cutting the area's housing deficit in half over 10 years: producing 10,000 homes and preserving another 3,000 homes. These goals focus on both affordable rental and homeownership. The partnership is currently are on pace to meet these goals by 2030. To meet this goal, GHF launched the Greenville Affordable Housing Coalition in January 2021.
The coalition is a partnership of more than 50 members. These include non-profit and private developers and preservation organizations, neighborhood leaders, government representatives and other partners in the affordable housing space.
These larger production and preservation goals also focus on increasing the number of homes available to our lowest income neighbors, growing homeownership for Black households, as well as other policy priorities including, but not limited to, housing stabilization and affordable housing incentives which the City is developing as part of drafting a new Development Code.