Renovations are coming to the Century Plaza Apartments after being acquired by the Greenville Housing Fund.
Renovations are coming to the Century Plaza Apartments after being acquired by the Greenville Housing Fund.

Greenville Housing Fund (GHF) has announced its purchase of Century Plaza Apartments, formerly known as The Ivy, a 212-unit complex in the Overlook neighborhood of Greenville, South Carolina.

GHF’s largest deal to date, the $31 million acquisition was facilitated in partnership with Greystone Housing Impact Investors, Greystone Affordable Development, and the city of Greenville.

“Century Plaza Apartments is in a great central location with easy access to I-385, downtown, and many employers,” says Bryan Brown, GHF president and CEO. Given the hot rental market within the city, he is also looking forward to a partnership with the Greenville Housing Authority to accept housing vouchers at Century Plaza, creating additional affordable apartment homes.

In addition to the property’s rebranding, GHF intends to invest close to $5 million in the complex, with renovations planned to over half of the units and to exterior siding and windows. A clubhouse will also be renovated with modern amenities and updated gym equipment.

“This transaction was made possible by the collaboration and relationships held by Greystone Affordable Development as a mission-driven affordable developer,” says Tanya Eastwood, CEO of Greystone Affordable Development, the chief development partner. “Our cooperation with Cushman & Wakefield, Greystone Housing Impact Investors, and the Greenville Housing Fund on this time-sensitive deal created new alliances and opportunities to make an impact on the local community, and we are grateful to our partners for their commitment to success.”

Greenville-based Easlan Management Company will provide on-site property management services.

With its latest acquisition, GHF has invested in the production and preservation of 1,048 affordable homes within the city since 2018.