- Greenville Summit will remain affordable for at least 20 more years through 2046
- The $10 million rehabilitation project includes upgrades to all 101 units
- More than 90% of residents earn below 30% of the area median income
- The project marks South Carolina’s first extension of a Bailey Bill tax assessment for affordable housing preservation
Greenville Summit, a 114-year-old building in downtown Greenville, is about to undergo a rehabilitation that city leaders say will keep its apartments “deeply affordable” for at least 20 more years.
The city of Greenville joined development partners, community leaders and residents for a ceremonial groundbreaking at the Greenville Summit on May 19, marking the start of a major rehabilitation project on the building.
The event comes after the City Council’s Feb. 9 approval of a new 20-year Affordable Housing Special Tax Assessment — a move that ensures the Summit will remain affordable through at least 2046 and enables the project’s financing and construction to move forward, according to a news release…