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Newberry, SC: Newberry Senior Apartments |
| Description: The Newberry Hospital, where generations of local residents entered this world, was soon to be abandoned in 2000. But the local Housing Authority and Council on Aging had other ideas. They wanted to preserve the old building and convert it into much-needed affordable housing for seniors. The Landmark Group arrived with architect Martin Meeks of Campbell Meek and Associates, who came up with a rehabilitation plan. But there was a problem with the plan. It was too expensive. |
| Impact: To make the financials work, The Landmark Group approached the problem on several fronts. First, supporters successfully petitioned to add Newberry Hospital to the National Register of Historic Places. Then came successful applications for block-grant funds from the South Carolina Department of Commerce, affordable tax credits from the South Carolina Housing Finance and Development Authority, and a very low interest loan from the Federal Home Loan Bank in Atlanta. Once funding was in place, Rehab Builders Inc., a Landmark affiliate, began work with as many local subcontractors, suppliers and tradesmen as possible on the $3.5 million project. The final result: 35 units of affordable housing for people 62 and older. |
Key Ingredients:
- Low Income Housing Tax Credits
- Historic Property Tax Credit
- Community Development Block Grant
- Home Loan and Grant
- Tenant-Based Rental Assistance
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| " To see the renovation is just astonishing. " |
Jan Peirsol
Executive Director
Housing Authority City of Newberry
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