New Affordable Rental Homes Planned for Greenville
The $3.3 million development adds 10 rental units for households 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 closed on $3.3 million in financing to build 10 long-term rental homes in the Sterling neighborhood. This project adds new housing stock specifically for individuals earning 60% to 80% of the area median income.
Why it matters
The development addresses the identified need for long-term affordable rental options in the Sterling area. Rental proceeds from these new units will be reinvested into local community programming.
The $3.3 million project features five stacked duplexes across three parcels of land. The Bank of America Charitable Foundation supported the effort with a $250,000 grant awarded in 2025.
The players
Greenville Housing Fund
An organization dedicated to increasing the supply of affordable housing units in the region.
Sterling Land Trust
A community-focused entity that manages local land assets to preserve long-term housing affordability.
Bank of America Charitable Foundation
The philanthropic arm of a major national financial institution that provides grants for community development.
Bon Secours St. Francis Health System
A local healthcare provider that supports community health initiatives through pre-development funding.
The details
The development utilizes a joint venture model between the Greenville Housing Fund and the Sterling Land Trust, which owns the land. Eligible renters must earn between 60% and 80% of the area median income, and the property will accept tenant-based vouchers. The design consists of five stacked duplexes built on three parcels of land.
Timeline
Spring 2024: Partnership formed to develop three parcels of land
2025: Bank of America Charitable Foundation awarded a $250,000 grant
October 21, 2026: Construction financing closed
November 5, 2026: Groundbreaking ceremony
The Home Front
This project aligns with the documented need for long-term affordable rental housing within the Sterling neighborhood. It follows a trend of leveraging local land trusts and foundation grants to secure community-focused development in Greenville.
Individuals looking for long-term rental options within the specified income bracket should monitor updates regarding tenant application timelines. Residents with tenant-based vouchers may qualify for these new units once construction is complete.
The takeaway
This project creates 10 new housing opportunities that cater to moderate-income earners by utilizing a community-based land trust model. Interested households can track the construction progress ahead of the scheduled November 5, 2026, groundbreaking.
What happens next
A groundbreaking ceremony for the new development is scheduled for November 5, 2026.
Further reading
Find more updates on rental opportunities in the Greenville Apartments section.
Source note: This article includes information reported by Post and Courier.
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