In a collaboration aimed at strengthening affordable housing options in South Carolina, Homes of Hope and Affordable Upstate have finalized the transfer of 18 single-family rental homes in Rock Hill. This partnership ensures the continued affordability of these units while supporting the growth and mission of both organizations.
The project reflects a shared vision to provide South Carolina families with access to stable, affordable housing, particularly as the region grapples with rising housing costs and a notable shortage of quality affordable units.
The homes will remain affordable under the new stewardship of Affordable Upstate. This organization focuses on preserving affordability through intentional ownership and community-centered housing solutions. This strategic move allows Homes of Hope, a leading provider of affordable housing and workforce development, to manage its capital needs effectively while ensuring these homes remain accessible for families in need. The transaction highlights a joint commitment to addressing the deepening housing crisis through thoughtful collaboration.
South Carolina currently faces a severe shortage of affordable housing, leading to thousands of families struggling with rising rents and limited options. By transferring the Rock Hill properties, Homes of Hope ensures continuity in affordability and positions itself for future impact.
Homes of Hope, a Greenville-based nonprofit founded in 1998, is dedicated to providing affordable housing and economic mobility opportunities. It has built 705 homes and graduated 337 men from its Men’s Workforce Development program. Affordable Upstate, a real estate investment firm established in 2017, focuses on redeveloping naturally occurring affordable housing. It has invested over $50 million in socially responsible workforce housing assets, accumulating a portfolio of over 1,450 apartment units.
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