Greenville is facing a level of growth that is unprecedented in our lifetime. There are many positive aspects of our city's growth and success, however, the most challenging unintended consequence of this growth is the pressure it creates on our affordable and workforce housing supply. This pressure can leave long-time residents and citizens vital to our local workforce without suitable options for housing.
In 2016, the City of Greenville initiated a year-long study of affordable housing led by a 25-member volunteer steering committee. The study resulted in the "Balancing Prosperity and Housing Affordability in Greenville" report. One of the recommendations in the study was the creation of a Housing Trust Fund to receive and disburse money to support the production and preservation of affordable housing units. On January 9, 2017, City Council appropriated $2 million in funding to establish the housing trust fund and provide seed funding for its start-up projects. Continued study in 2017, led by a 12 member volunteer working group, resulted in a recommended framework for the Housing Trust Fund.
In March 2018, the Greenville Housing Fund, a 501c3 organization operating under the existing Community Works umbrella, opened its doors.
The Vision of the Greenville Housing Fund is to enable thriving diverse neighborhoods in all of Greenville to be successful.
The Mission of the Greenville Housing Fund is to further the production and preservation of quality affordable and workforce housing that meets the needs of all residents regardless of income.
The Greenville Housing Fund has three goals:
- serve as an advocate and champion for affordable housing in Greenville,
- invest in affordable housing development, and
- purchase land for affordable housing development.
Further, the Working Group recommended investing in projects that provide affordable housing for households with annual incomes between $15,000 and $55,000. The fund also has the flexibility to move beyond these limits as project and market conditions may allow.
Balancing Prosperity and Housing Affordability in Greenville
Affordable Housing Presentation
Considerations Towards a Housing Trust Fund
Summary Recommendations for a Housing Trust Fund
May 1 Meeting Summary
June 15 Meeting Summary
July 19 Meeting Summary
September 6 Meeting Summary