Synovus Supports Affordable Housing in Columbia

Synovus Supports Affordable Housing in Columbia

Columbia, S.C. - Pinnacle Financial Partners and legacy Synovus continue their commitment to community development across the Southeast.

Synovus recently joined community leaders to celebrate the grand opening of Addison Pointe, an 80-unit affordable housing community in Columbia, located on Percival Road in Richland County.

The Connelly Builders' development was financed through a Low-Income Housing Tax Credit investment totaling $16.3 million, along with a $2.4 million construction loan and a $13.1 million bridge loan. The project reflects Synovus' continued focus on public welfare investments that expand access to quality housing.

John Griggs, regional president for central South Carolina, attended the event and spoke to the impact of the development. "Expanding access to quality, affordable housing in Richland County creates not only long-term value for our neighbors who will live at Addison Pointe but for the entire community," Griggs said.

Addison Pointe is designed to serve residents across a range of income levels, with units designated for households earning between 20 percent and 70 percent of area median income, ensuring accessibility for individuals and families with the greatest need.

The development also supports Community Reinvestment Act objectives by increasing the supply of affordable housing and strengthening the economic stability of the surrounding community.