This formerly vacant historic elementary school has been transformed into
46 units of affordable housing, minutes from downtown Spartanburg and Wofford College
On the edge of downtown Spartanburg, Fremont School
is a beautifully restored historic school building, which was transformed from a vacant
hulk into 46 units of affordable apartments utilizing both Low Income Housing Tax Credits
and Historic Tax Credits. A local social service agency saw potential in this historic school
building and purchased it, but quickly realized they needed an experienced affordable housing partner
to facilitate the redevelopment of the school. They formed a partnership with PRI to convert the
building into apartments for very low-income residents in the Spartanburg area, including 10
units reserved for the homeless. This arrangement also provided social services to the
residents, a component vital to the success of the project.
Fremont School Apartments
600 Magnolia Street
Spartanburg, South Carolina 29303
864-585-1486
|
Property-at-a-Glance |
| Completion Date: |
2002 |
| Number of Units: |
46 |
| Developer: |
Progressive Redevelopment, Inc. |
| Architect: |
Campbell Meek & Associates |
| General Contractor: |
Connelly Builders, Inc. |
| Property Management: |
InterMark Management |
| Funding Sources: |
- Low Income Housing Tax Credits
- Historic Tax Credits
- Bank of America/Fannie Mae Loan
- Federal Home Loan Bank, Affordable Housing Program
- City of Spartanburg Grant
|
| Development Type: |
Rehabilitation |
| Property Type: |
Apartments |
| Development Profile: |
22 1-bedroom units
14 2-bedroom units
10 units targeted to the homeless |
| Residential Profile: |
28 units restricted to 50% of Area Median Income
18 units restricted to 60% of Area Median Income
10 units targeted to the homeless |
| Amenities: |
- Community Building
- Playground
- Utilities included in Rent
- Property is on the National Register of Historic Places
|
| Supportive Services provided On-site: |
Miracle Hill Ministries of Spartanburg provides case management for formerly homeless tenants. |
| Total Development Costs: |
$4,506,000 |