WATERS AT RIBAUT

BEAUFORT, SC

Waters at Ribaut involves the proposed acquisition and rehabilitation of an existing 60 home apartment complex originally constructed in 1970 on 5.57 acres of land in Beaufort, SC. The property is now restricted to residents earning 60 percent or below of the area median income and will include 40 two-bedroom homes and 20 three-bedroom homes in eight two-story garden and townhome style residential buildings.

Existing community amenities included an on-site management office, laundry facilities and a playground. As part of the renovation program, an addition to the management/leasing office building is being constructed and will include a new clubhouse space with a kitchen and computer center, a new picnic area with grill will be added, and a new surveillance camera system will be installed throughout the property.

Social and educational programs will be provided to residents including, but not limited to, summer and after school programs such as tutoring, community building events, computer labs, ESL classes, and a variety of wellness services. One of the two-bedroom units is provided rent-free to a services coordinator who, along with the developer’s director of community services will provide the services.

This property was financed using the Low-Income Housing Tax Credit (Housing Credit). Financing for Waters at Ribaut was facilitated by R4 Capital Funding. The developer is the AHF Ribaut Development, LLC.