Local groups buying properties with plans to create affordable housing
NOAH and Affordable Upstate are teaming up to buy apartment complexes and offer financial help for residents.
More than just newly renovated and upgraded apartments, local groups say they’re hoping to improve wealth gaps and provide long-term solutions for residents.
Supporting the community and providing investments in affordable housing are the goals of Matt Foster with NOAH (Naturally Occurring Affordable Housing) Property Management. His company in partnership with Affordable Upstate is turning old apartment complexes, into newly renovated communities.
"Our focus is providing clean, safe, quality apartments for our residents," he says.
The group recently purchased two separate apartment complexes in the Berea area, along Lily Street and W Parker Road. The renovations total over two dozen units with a plan to make homes livable again, a process they're hoping to grow in the upstate.
Foster tells us the complexes were owner-managed. He says, "The place is, falling apart. So, we acquired it with the intention of transferring all the residents here to Paris Park."
At Paris Park, he tells us, residents receive a lower rent rate, and other services to help their financial freedom.
"We offer our residents the opportunity to be able to split their rent payment in half. So then their first paycheck of the month, they don't have to spend it all on rent."
