The bank provided the grants to the public-private partnerships through its Affordable Housing program.
Affordable Housing Solutions for Florida, Inc. received $300,000, throughWachovia Bank. The group will use the funding to build 40 multi-family town homes for low- and moderate-income families in Bluffton, SC.
Santee Lynches Affordable Housing and C.D.C. and Sumter National Bank received a $288,000 grant to refurbish 50 rental units for elderly residents in Sumter.
"The rapid increase in rental housing prices in South Carolina has caused many working families to be priced out of the housing market," FHLBA Affordable Housing Advisory Council Chairwoman Leona Plaugh says in a prepared statement. "This funding will greatly expand the housing options for fixed- and lower-income residents in the area."
The awards are part of $18.6 million in program grants the Federal Home Loan Bank of Atlanta has awarded this year to develop housing for 3,594 low-income families in 11 states and the District of Columbia.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
