Developers broke ground on a $12 million rehabilitation of the Greenville Summit on May 19.
The 114-year-old building located at 201 W. Washington St. in downtown Greenville provides affordable housing to seniors and individuals with disabilities. More than 90% of the Greenville Summit’s residents earn less than 30% of the area median income, which is approximately $20,300 per year.
Interior renovations will be completed to upgrade the 101-unit affordable senior housing community. Each apartment unit will undergo $120,000 in renovations to install new kitchens, bathrooms, flooring and HVAC units. Crews will also complete facade improvements, including restoring the building’s historic cornice, repointing the brick facade and installing new windows.
The Greenville Summit was originally built in the early 1910s as the Imperial Hotel. The eight-story structure was Greenville’s first skyscraper and is listed on the National Register of Historic Places. In 1984, the historic building was redeveloped into an affordable senior housing community.
JE Properties, a Boston-based real estate company, purchased the Greenville Summit in 2018 and completed a $3 million renovation to the building’s common spaces. A special property tax assessment known as the Bailey Bill was authorized for the initial renovation of the Greenville Summit. This was the first time the Bailey Bill was used to preserve affordable housing in South Carolina.
Greenville City Council approved a new affordable housing special tax assessment for the building in February. This action extends the property’s tax freeze at its pre-rehabilitated value for up to 20 years, ensuring affordable housing remains on the site through 2046.
“This is here for the ages,” said Greenville Mayor Knox White. “Everyone who lives here is a very lucky person in the heart of our beautiful downtown – our walkable, safe downtown – and that’s what this housing provides. It’s going to be even better in the future.”
The U.S. Department of Housing and Urban Development provided two mortgages for the Greenville Summit, allowing developers to put more money into the current renovation project. The project was also awarded a 9% federal low-income housing tax credit in 2024, equal to $2.5 million.
Joseph Eddy, president of JE Properties, said partnerships with the city, state and federal governments are crucial to ensure the Greenville Summit remains affordable housing. He explained that brokers, developers and hoteliers call him at least once a week, interested in turning the property into luxury housing or a hotel.
“Last year, this building had 381 people apply to live here. We had 22 spots,” Eddy said. “That’s really what we’ve been working on, trying to create more affordable housing downtown because of the demand.”
Renovations to the Greenville Summit’s apartment units are expected to be completed by the end of the year. Eddy said residents will not be permanently displaced during renovation. However, tenants may have to temporarily stay in a hotel free of charge while work is done on their unit. Exterior improvements are anticipated to be done by the spring of 2027.
In the future, JE Properties also plans to build an addition to the Greenville Summit to add more affordable housing units. Design plans for an eight-story building addition were approved by the city’s Design Review Board in 2023. Eddy said they will work with SC Housing to secure low-income housing tax credits for the project.
