Greenville Housing Authority Buys Four Housing Communities

The $8.5 million purchase keeps 432 affordable homes in the Nicholtown neighborhood from shifting to market-rate rents.

Updated on Nov. 9, 2026 in Philanthropy

Red brick apartment building with white balconies on a tree-lined residential street under warm late-afternoon light. — The Greenville Housing Authority bought four affordable communities for $8.47 million, keeping 432 homes in the Nicholtown neighborhood from converting to market-rate rents. AI Illustration. Upload story photo >

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Should local government spend public funds to keep existing apartments affordable?

The Greenville Housing Authority acquired four affordable housing communities for $8,467,553, preserving 432 affordable residences in the historic Nicholtown neighborhood. The acquisition buys out private investment interests in the properties.

Why it matters

The purchase prevents the properties from converting to market-rate rentals once their Low-Income Housing Tax Credit compliance period ends. It keeps affordable units available to residents in Greenville.

The four communities total 432 affordable residences acquired for $8,467,553. Neither the source nor the extraction specifies future operating budgets or planned renovations.

The players

Greenville Housing Authority

The Greenville Housing Authority is the local public agency that provides affordable housing in Greenville, South Carolina.

United Community Bank

United Community Bank is a regional bank headquartered in Georgia that provided financing for two of the acquired communities.

The details

The Greenville Housing Authority, through its affiliate TGHA, bought out the private investment interests in Forest View, Evergreen Place, Nichol Town Green and Clark Ridge. Forest View and Evergreen Place were purchased with TGHA's unrestricted development reserves, while Nichol Town Green and Clark Ridge were financed through United Community Bank.

Between 2006 and 2008: Properties were built or rehabilitated through a federal HOPE VI grant and Low-Income Housing Tax Credits.
2006: The original Jessie Jackson Townhomes site was demolished.
November 9, 2026: The acquisition was announced as completed.

Philanthropy Trend

Acquisitions like this one address the expiration of Low-Income Housing Tax Credit compliance periods, when affordable properties can convert to market-rate rentals. Public housing authorities buying out private investors is one way to keep such units affordable in the long term.

Current residents in the four communities are expected to keep affordable units as the properties remain under affordable housing management. Residents and applicants should watch for any changes to rent rules or eligibility announced by the Greenville Housing Authority.

The takeaway

Preserving affordable units before tax credit restrictions expire can keep homes within reach for lower-income families. Residents who want to understand how these changes affect them should ask the Greenville Housing Authority directly.