Partnership gets loan for its first affordable housing project

sjones@thesunnews.comMarch 12, 2013 

PICASA 2.7

— A partnership formed several years ago to create more affordable housing in Georgetown County has gotten its first loan and will use the $375,000 to purchase and rehabilitate the Winyah Apartments, according to information from Jackie Broach, public information officer for Georgetown County.

When completed, the apartments in the 14-unit complex on Duke Street are to be rented to residents earning 80 percent or less of the area’s median income. The affordable rent must be continued for 20 years under the terms of the loan from the Tri-County Regional Development Corp. to the Low Country Housing Trust.

Broach said there are some residents in the complex now and that the plan is to rehab the vacant apartments and move the current residents into them and then rehab the others.

Georgetown County partnered with the Trust in 2010 to build workforce housing that would be affordable either for purchase or rent by people such as firefighters and teachers.

The partnership conducts first-time homebuyer courses for those who purchase residences through the program. Completion of the coursework is required for buyers to qualify for down payment and other buyer assistance programs.

The third in the series of classes is to begin March 23 at the offices of the Waccamaw Regional Council of Governments at 1230 Highmarket St.

The partnership includes the county, the Trust, the COG and the Frances P. Bunnelle Foundation.

Contact STEVE JONES at 444-1765.

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