South Carolina welcomes "new approach" to affordable housing with The Sullivan community

GREENVILLE, S.C. - May 3, 2023 - PRLog -- Recognizing the critical need for high-quality, affordable housing, three developers have pooled talents to develop one of the largest new affordable housing projects to come online in 2023 in South Carolina as they open The Sullivan apartment community in Greenville County.

"This is a challenging time to deliver a real estate project, as the current interest rate environment and post-Covid supply chain issues impact every project," said Holly Douglas, a principal on the development team. "There are always significant financial considerations in such projects to deal with."

"For us, this is more than an apartment community. We have a passion and mission to address the critical need for high-quality, affordable housing that faces our state. The Sullivan is a critical step forward."

The Sullivan is a combined effort of Schaumber Development, Holliday Development and Douglas Development, three noted Upstate organizations that have cumulatively developed, rehabbed or repositioned communities across the Southeast totaling over 10,000 units.

The Sullivan, which offers floor plans with 1-, 2-, 3- and 4-bedroom options, is designed for households making below 60% of area median income (AMI), or around $51,000.  Upstate leaders have estimated the need for over 10,000 units of affordable housing to meet demand.

That need – and a passion to do more as well as do good – is the genesis behind The Sullivan.

"Throughout our careers, we've embraced the basic idea that, no matter how much money you earn, having a quality home to live in is critical to one's self-worth and respect," said Drew Schaumber, principal with Schaumber Development.  "We take pride in the end product. We provide high quality construction, efficient appliances, attractive finishes, and community amenities to make residents' lives enjoyable. That's what folks will find at The Sullivan."

The community is striking for its attractiveness, amenities, quality, and convenience, along with an extraordinary level of privacy, peacefulness and security.

The 180-apartment community is housed in five buildings near Travelers Rest at 6001 Jacks Lookout Road.  Just minutes from Berea Elementary, Middle and High Schools and the Berea Community Center, shopping, restaurants, and healthcare are nearby while downtown Greenville is a 13-minute drive.  The community is located on a bus route, enhancing accessibility.

The Sullivan's amenities include resident clubhouse with coffee bar, business center, onsite laundry facilities and fitness center, a resort-style pool, sundeck, playground, and picnic area.

Units range from 900 to 1600 square feet, and feature high ceilings, hardwood-style flooring and carpeting, walk-in closets, plus quality cabinets and countertops. Apartments feature energy efficient appliances, windows and HVAC systems, and lighting, ceiling fans, washer-dryer hookups and prewiring for cable and internet are included.

Affordable housing need not look or feel like many people expect affordable housing to look, adds Ms. Douglas.  "We continuously challenge stereotypes about how affordable housing looks and feels like," she said.

Leasing at The Sullivan has begun, with the first residents arriving in early May. "Our mission is always to create vibrant, high-quality affordable housing for residents and to enhance the communities we build in. We believe The Sullivan will be a point of pride for the Upstate for years to come," added Mr. Schaumber.

The project was financed through investment from RBC Capital Markets, JP Morgan Chase, Stifel, Prudential and Community Works, as well as 4% bonds and low-income housing tax credits (LIHTCs) administered by the South Carolina State Housing Finance and Development Authority. Progress Carolina is general contractor while Progress Design served as architects.

Interested parties can contact the NHE leasing office at 864-987-8133 or by e-mail at sullivan@nhe-inc.com.