Small Rental Development Program
Forecasted
Small Rental Development Program supports housing developers with construction, conversion, and rehabilitation financing to create and improve affordable rental homes for low-income South Carolina households.
Funder: South Carolina State Housing Finance & Development Authority
Due Dates (Anticipated): April 2027 (Preliminary exhibits and waivers) | July 2027 (Full application)
Funding Amounts: Approximately $40,483,611.93 for the 2026 cycle; repayable or forgivable loans, generally 20–30 years
Summary: Finances new construction, conversion, and rehabilitation of small affordable rental housing developments in South Carolina.
Key Information: This is housing development financing, not research funding; applicants must meet financial capacity and development experience thresholds.
Description
SC Housing’s Small Rental Development Program supports developments containing 4–39 affordable rental units, integrating small numbers of affordable homes into neighborhoods and communities. It combines HOME Investment Partnerships Program, National Housing Trust Fund (NHTF), and South Carolina Housing Trust Fund (SC HTF) resources through a competitive application process.
The program supports acquisition, demolition, new construction, conversion of vacant nonresidential buildings, and rehabilitation. Eligible housing includes permanent rental housing, permanent supportive housing, and transitional supportive housing, although transitional housing cannot receive NHTF funds. Single-family and multifamily dwellings, single-room-occupancy housing, group homes, and scattered-site developments can qualify. HOME and SC HTF support low-income households, while NHTF primarily serves extremely low-income households, including homeless families.
