Borrower: Midlands Community Development Corporation
Loan Amount: $715,675
Location: Columbia, SC
Project Type: Affordable Housing


Nearly one third of South Carolinians are cost-burdened by their homes, meaning they spend over 30% of their income on housing costs. According to the National Low Income Housing Coalition, residents in the Atlas Road community would have to earn $17.12 per hour in order to afford a two-bedroom rental at market rate. All too often, working families and minimum wage workers find themselves making longer commutes from more affordable areas or struggling to make ends meet.


Midlands Community Development Corporation (MCDC) originated from Bible Way Church of Atlas Road with the vision of helping others improve their lives and communities. In 2004, MCDC opened the C.R. Neal Dream Center, a 33,000 square foot building with multi-purpose rooms, a computer lab, full-service cafeteria, and health center. MCDC saw the need for affordable housing options in the area and constructed 40 homes that were sold to low-to-moderate income families in its Congaree Pointe development. Seeking to further increase the availability of affordable housing options, MCDC has planned its next development. Their next project, The Villages at Congaree Point, is slated to begin construction in January 2018. MCDC approached South Carolina Community Loan Fund for financing knowing SCCLF also works to create affordable housing options and advocates for high-density communities affordable to low- to middle-income families.


The Villages at Congaree Point will consist of 336 units of workforce housing available to low-to-moderate income individuals and families and provide a much-needed boost to affordable housing inventory. Located within seven miles of Interstate 77 and within three miles of Garners Ferry Road, The Villages at Congaree Point will also provide easy access to a number of the area’s major employers, the COMET public transit system, a variety of healthcare providers, and other amenities.