The Sullivan community in South Carolina is almost ready to welcome its first residents as construction is nearing completion. This affordable housing project is expected to provide comfortable living options for families and individuals.
Community Features
The 40-acre property, located at 6001 Jacks Lookout Road, features five 3-story buildings with a total of 180 units. The units range from one to four-bedroom options and measure between 900 and 1,600 square feet in size. All units are equipped with 9-foot high ceilings, air conditioning, and walk-in closets. The property is also furnished with efficient appliances like HVAC systems, ceiling fans, and washer/dryer hookup. Wiring for cable and internet connections is also available.
The Sullivan community provides easy access to several dining and retail options near White Horse Road, near Highway 25, and is just 5 miles away from Greenville. Furman University is also just 3 miles south of the property.
The Solution for the Housing Crisis in South Carolina
Holly Douglas, a principal and spokesperson for the development team, said that The Sullivan will help alleviate the housing crisis, especially since wages for many jobs are not keeping pace with housing prices. The development units are available for households earning up to 60 percent of the area median income, a demographic that has limited options in the Greenville area.
The affordable housing project is a collaborative effort, with Schaumber Development, Holliday Development, and Douglas Development working as co-developers. Funding for the project includes a $32.2 million construction loan from JPMorgan Chase Bank, $22 million in 4% bonds, and low-income housing tax credits from the South Carolina State Housing Finance and Development Authority. Community Works has also issued a $200,000 loan that has already been paid based on public records. Other sources of funding include investments from RBC Capital Markets, Stifel Bank, and Prudential.
Frequently Asked Questions:
When will the Sullivan community be open to residents?
The Sullivan community is nearing completion, and it is expected to open soon, welcoming its first residents.
What types of units are available in the Sullivan community?
The Sullivan community features 180 units that range from one to four-bedroom options, measuring between 900 and 1,600 square feet in size. All units have 9-foot high ceilings, air conditioning, and walk-in closets, among other features.
Who can apply for housing in the Sullivan community?
The Sullivan community is designed to provide affordable housing options for households earning up to 60 percent of the area median income.
What amenities does the Sullivan community offer?
The Sullivan community offers several amenities, including access to multiple dining and retail options near White Horse Road, HVAC systems, ceiling fans, and washer/dryer hookups.
What is the source of funding for the Sullivan community?
Funding for the Sullivan community comes from several sources, including a $32.2 million construction loan from JPMorgan Chase Bank, $22 million in 4% bonds, and low-income housing tax credits from the South Carolina State Housing Finance and Development Authority. Other funding sources include Community Works, RBC Capital Markets, Stifel Bank, and Prudential.
Who developed the Sullivan community?
The Sullivan community is a collaborative effort between Schaumber Development, Holliday Development, and Douglas Development.
What is the location of the Sullivan community?
The Sullivan community is located at 6001 Jacks Lookout Road in South Carolina, near Highway 25 and just 5 miles away from Greenville. Furman University is also just 3 miles south of the property.
What problem does the Sullivan community aim to solve?
The Sullivan community aims to provide affordable housing options for households earning up to 60 percent of the area median income. This demographic has limited options in the Greenville area due to the high cost of living and low wages for many jobs.
What makes the Sullivan community unique?
The Sullivan community is unique because it offers affordable housing units equipped with several amenities and is in close proximity to multiple retail and dining options. It also provides easy access to highways and is near Furman University.
Closing Statements
The Sullivan community is a much-needed affordable housing option in South Carolina, designed to provide comfortable living options for households earning up to 60 percent of the area median income. The community is well-equipped with several amenities, and it provides easy access to highways, retail, and dining options. We hope that this project serves as one of many solutions to the housing crisis that is affecting many low-income households in the Greenville area.
