The eight organizations that were approved for funding have been busy providing their due diligence packages. Our office is currently scheduling site visits to meet key personnel and volunteers, see completed work and also meet some of the people impacted by each of these programs. We look forward to meeting with each of the organizations over the next month!

The next phase in construction has begun on the site. The elevator shaft has been constructed and crews are working to start the foundation. Carrington Manor, a Low-Income Housing Tax Credit (LIHTC) project, is BJHT’s inaugural project in the area. This community is designed for seniors aged 55 and older with eligible incomes.

Developers for the project have advised BJHT that they will delay their application for federal and state tax credits until 2025. Competition for the limited amount of resources is fierce and BBR, LLC is hopeful their application will be a top contender for funds next year. Funding layers from many sectors continues to be crucial for the successful production of affordable housing.

BJHT will provide updates for the project once SC Housing opens LIHTC applications in 2025. Main Street Village at Hardeeville would be a new affordable housing community in the city of Hardeeville, SC. The first phase of the project will consist of 80 apartment homes (studio, 1, 2 and 3 bedrooms).

The partnership among the Beaufort Jasper Housing Trust (BJHT), Beaufort County, and the Coastal Community Development Corporation (CCDC) is now in progress. BJHT will provide funds to CCDC to develop workforce housing for the service industry in southern Beaufort County. The Trust is eager to collaborate with CCDC and support their innovative strategies to address workforce housing challenges in and around Hilton Head Island. CCDC aims to preserve local workforce housing by acquiring existing homes in the region and renting them to
local workers at rates based on household income.

• Other Events Attended This Month
• Lowcountry Affordable Housing Coalition Meeting
• Federal Home Loan Bank Atlanta Meeting
• Coastal Community Foundation and the region Post & Courier Panel Discussion
• Beaufort Regional Chamber of Commerce’s Legislative Reception

On Thursday, May 30, 2024, the Town of Bluffton marked the groundbreaking of a new affordable housing community featuring 12 homes on May River Road. Board members from BJHT, key lawmakers, and contributors to the project were in attendance. This initiative is a collaborative effort between the Town of Bluffton and Workforce State of Mind, LLC, with numerous local partners playing a role in reaching this milestone. The community is expected to open in Spring 2025.

Site preparation has recently commenced for the 64-unit senior community at 2247 Boundary Street. Carrington Manor, a Low-Income Housing Tax Credit (LIHTC) project funded by SC Housing and BJHT’s inaugural project in the area, is designed for seniors aged 55 and older with
eligible incomes.

We bid farewell to Interim Executive Director, Dana Totman, in April. In his time with BJHT, Dana exemplified resilience, dedication and a deep commitment to the mission of providing affordable housing solutions in our region. He stepped into the role with knowledge and grace, guiding the organization through a transitional period and providing stability when we needed it the most. Dana’s strategic vision steered BJHT in the right direction and set the stage for continued growth and success. We wish Dana all the best in his future endeavors!

Commitment for Funding Main Street Village at Hardeeville

BJHT is pleased to announce the commitment to fund of Main Street Village at Hardeeville to BBR Development, LLC. The organization will receive a loan of $440,000 from BJHT to develop a new affordable housing community in the city of Hardeeville, SC. The first phase of the project will consist of 80 apartment homes (studio, 1, 2 and 3 bedrooms). The Developer has filed a preliminary tax credit application with SC Housing. With an award of federal and state housing tax credits, construction is anticipated to begin in Spring 2025.

As a dedicated advocate for affordable housing, Claude Hicks has dedicated the lion’s share of his professional journey to the development, construction, preservation, and acquisition of affordable housing. With a steadfast commitment to ensuring families and seniors have access to safe and affordable homes, Claude’s impact has been felt across a vast 10-state footprint, primarily in the mid-Atlantic and southeast regions of the United States.

Throughout his career, Claude has been instrumental in leading the development of over 250 affordable communities, contributing to the creation of more than 15,000 housing units. His endeavors have not only transformed communities but have also generated an impressive $1 billion in syndication equity, illustrating his proficiency in both social impact and financial acumen. Born into a family with deep roots outside Charleston, South Carolina, Claude draws inspiration from his upbringing. He is a proud graduate of Southern Illinois University and Victor Valley College. Claude served his country as a distinguished veteran of the United States Air Force.

Claude shares a loving partnership with his wife, Shawn, and together they nurture a family of five children. Additionally, Claude and Shawn’s compassionate spirit extends to their furry family members, as they care for three special needs dogs. Claude Hicks’s professional accomplishments and personal values intertwine seamlessly, reflecting a profound dedication to making a lasting difference in the lives of others, one affordable home at a time.

The initial BJHT Requests for Proposals (RFPs) concluded on March 28, 2024. BJHT received 15 applications from a variety of for-profit and non-profit organizations. Collectively, the requests would create 100 new affordable rental homes, repair 98 owner occupied homes, and help 42 households purchase their first homes.

BJHT has made available $1,600,000 for this round of funding and the requests exceed the available funding. In the coming weeks, a
selection committee will review the proposals and decisions will be announced by June 1, 2024.