Greenville Affordable Housing Project Secures Funding
Ten new rental homes are coming to the Sterling neighborhood for residents earning 60% to 80% of the area median income.
Updated on Oct. 21, 2026 in Apartments
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The Greenville Housing Fund and Sterling Land Trust have secured $3.3 million in financing to build 10 affordable rental homes in the Sterling neighborhood. This project, which includes five stacked duplexes, is designed to serve individuals earning 60% to 80% of the area median income.
Why it matters
Stakeholders identified long-term affordable rentals as the most pressing need in the Sterling neighborhood. By using a land trust model and accepting tenant-based vouchers, this development aims to provide stable housing options for local households within specific income tiers.
The project will deliver 10 affordable rental homes at a total development cost of $3.3 million. Eligibility is restricted to residents earning 60% to 80% of the area median income, and the site accepts tenant-based vouchers.
The players
Greenville Housing Fund
A local organization focused on expanding affordable housing access for residents.
Sterling Land Trust
An entity that holds and manages land to ensure long-term housing affordability for the community.
Bank of America Charitable Foundation
A philanthropic arm of the bank that provides grants to support local community development initiatives.
Bon Secours St. Francis Health System
A health provider that supports community wellness initiatives, including affordable housing projects.
The details
The development utilizes three parcels of land in the Sterling neighborhood to construct five stacked duplexes. The joint venture between the Greenville Housing Fund and Sterling Land Trust ensures that rental proceeds are reinvested into local community programming. Support for the project includes a pre-development grant from Bon Secours St. Francis Health System and a 2025 grant from the Bank of America Charitable Foundation.
Timeline
October 21, 2026: Construction financing closed.
November 5, 2026: Groundbreaking ceremony.
Money Landscape
This project follows the established land trust model, which separates ownership of land from residential buildings to preserve affordability. It represents a targeted effort to address local housing inventory gaps by focusing on specific income tiers.
Households earning 60% to 80% of the area median income may soon have access to new, long-term rental options. If you qualify and are seeking affordable housing, consider tracking the project's progress to monitor when application processes open.
The takeaway
This development marks a significant step in addressing local rental affordability through a community-focused joint venture. Prospective tenants should monitor official announcements for updates on unit availability and eligibility requirements.
What happens next
The groundbreaking ceremony for the development is scheduled to occur on November 5, 2026.
Further reading
For more information on the local rental market, visit the Greenville Apartments section.
Source note: This article includes information reported by Post and Courier.
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