Small Rental Development Program
Forecasted
Small Rental Development Program supports South Carolina housing developers building, converting, and rehabilitating small affordable rental projects to bring more affordable homes into neighborhoods.
Funder: South Carolina State Housing Finance & Development Authority
Due Dates (Anticipated): April 2027 (Exhibits 7 and 24; waivers) | July 2027 (full application)
Funding Amounts: Approximately $40.48 million in the 2026 cycle; 20- or 30-year loans, depending on funding source
Summary: Supports the development and preservation of small affordable rental projects in South Carolina.
Key Information: Applicants must meet net-worth and unrestricted-liquid-asset thresholds based on project size.
Description
The Small Rental Development Program (SRDP), administered by SC Housing, combines federal HOME Investment Partnerships Program and National Housing Trust Fund resources with the South Carolina Housing Trust Fund. It supports new construction, conversion of vacant nonresidential buildings, and rehabilitation of small affordable rental developments in South Carolina. Its goal is to integrate small numbers of affordable homes into neighborhoods and communities.
Eligible housing includes permanent rental housing, permanent supportive rental housing, and transitional supportive rental housing. Projects may comprise single-family or multifamily buildings, but must fall within the applicable four-unit or 5–39-unit funding category. Transitional housing cannot receive National Housing Trust Fund funding.
