One local residential builder thinks a new courtyard-style, affordable housing apartment complex for seniors on Wise Drive next to ALDI grocery store will be a win for Sumter.
Evergreen Villas, which will consist of 49 two-bedroom units at 101 N. …
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Evergreen Villas, which will consist of 49 two-bedroom units at 101 N. Wise Drive, will be customized for individuals 55 and older and should be open in about a year, according to Holly Douglas, development associate with Douglas Development, based out of Horry County.
The complex - which will be constructed as a single three-story building - is a low-income tax credit senior housing development under the state Housing Authority, but it is not subsidized housing, Douglas emphasized last week.
With a tax credit development, seniors must only meet a minimum income standard of about $24,000 when they move in - they aren't penalized as their income goes up, she said.
With subsidized public housing, if a person increases his or her income, the subsidy from the government is cut. Therefore, there can be a disincentive to get promoted or earn more money with subsidized housing.
A tax credit residential development is generally referred to as workforce or affordable housing, Douglas said, and tenants pay a below-market rent.
Douglas estimated the apartments will be open in the first quarter or early summer of 2019 and that her company will likely start taking leasing applications at the beginning of next year.
She forecasted rentals will be between $500 and $600 per month, or about $200 to $300 below the market rate in Sumter.
Tenants still pay utilities and go through credit and other screenings, she said.
It's the builder's first development in Sumter County, Douglas said, but the 25-year-old company has about 3,000-4,000 units in Columbia, Greenville, Myrtle Beach, Charleston, Rock Hill and Florence.
Douglas said her company delivers "a Class A high-quality product" and still owns every development it has ever built.
"In terms of what we will be delivering for $500 to $600," Douglas said, "you will not be able to tell the difference between this and a market-rate conventional product in Sumter."
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