The Alliance: 100 Units and 100 Percent Affordable

The long-awaited Alliance development is one step closer to reality. On Tuesday, Planning Commission unanimously approved the projects modifications, allowing the fully affordable housing project to move forward.

The Alliance project was awarded a state Low-Income Housing Tax Credit in 2024, allowing financing for the development. Tax credits may be claimed over a 10-year period, provided the property is maintained as affordable housing for a minimum of 30 years. "It will make it financially feasible to develop the property into 100 affordable units, as well as 4,200 square feet of commercial space," said Taylor Davis, the president and CEO of NHE, Inc., a Greenville-based property management company.

The one to three-bedroom units will be available to families between 20 and 70% AMI, meaning families making between $12,000 and $60,000 a year will be able to afford brand new housing near downtown Greenville.

The two four-story buildings will be the largest new construction project along the Laurens Road corridor in recent years.

It will now move forward to City Council for final review.

Affordability Explained

The Alliance Project has an overall Area Median Income (AMI) average of 53.8 percent. NHE Development Manager Joseph Kass explainedthat the project now has become more affordable than the previous target of 60 percent AMI. The change allows NHE to target families needing deeper affordability, by balancing those units with units at 70 percent AMI.

The project will include:

• 10 units at 20%
• 11 units at 30%
• 68 units at 60%
• 11 units at 70%