A Greer Apartment Complex Just Sold for Less Than It Did in 2023, and to a Public Housing Buyer

A four-year-old apartment complex in Greer just sold for less money than it fetched three years ago. The Lively at Victor Park, a 318-unit community, changed hands in June 2026 for $61.2 million, according to Multi-Housing News. That is a 3.8 percent discount to the $63.6 million it sold for in 2023. The asset is newer, the market is bigger, and the price went down.

There is a second twist. The buyer, an entity called Sixteenth Floor Residential, is linked to a public housing organization. It traces to Housing Opportunity Management Enterprises, formerly the Housing Authority of the City of El Paso, Texas. The financing came from $69.9 million in tax-exempt bonds issued through the South Carolina Jobs-Economic Development Authority, an 11-year loan at 4.25 percent fixed, per the same reporting.

What happened

The Lively at Victor Park sits at 1000 Village Mill Drive in Greer, roughly halfway between Greenville and Spartanburg and close to the BMW plant and the Greenville-Spartanburg airport. It was completed in 2022. DLH Properties sold it to the public-housing-linked buyer. The community offers studio through three-bedroom layouts, a saltwater pool, and a two-story gym with a climbing wall. Tax-exempt bonds are simply municipal bonds whose interest is not federally taxed, which lets a public-purpose buyer borrow at a lower rate.

What most people think

Renters and housing advocates tend to read this as a public good. A housing authority affiliate buying market-rate apartments with tax-exempt bonds is a recognized national strategy, and it is sometimes used to add workforce or more affordable units. In a submarket growing as fast as Greer, more attainable housing near the jobs is a real benefit. The bond structure and the public-purpose owner give that hope a foundation.

The caveat

The affordability part is not yet a fact. Nobody has reported whether the bonds carry enforceable income limits or rent caps, or whether they carry none at all. So far the "more affordable housing" story is a hope, not a confirmed term of the deal. Fiscal conservatives and county budget watchers raise a second point. A housing-authority-linked owner can change how a property is taxed, and whether this complex stays on the Greer and Greenville County tax rolls is unconfirmed. National critics note that some of these deals pull property off local tax rolls without delivering deep affordability. Those concerns are not unreasonable.

What would settle it

Watch two things. First, the actual terms tied to the $69.9 million in bonds, meaning whether they require income-restricted or rent-capped units, and at what levels. Second, the property's post-sale tax status, meaning whether it stays taxable and, if not, how much revenue Greer and the county lose.

If this sale adds no new affordability and takes the property off the local tax rolls, is that a fair trade for the people of Greer, or should public bond financing come with rent rules attached? Tell me where you land.

Source: Multi-Housing News and REBusinessOnline.

Information only, not financial advice.