Commercial Properties

The Gaffney Enterprises Commercial Development (SICD) team grants low-interest loans for mid-sized and large commercial projects. We consider eligibility for both for-profit and non-profit developers or community developers. HCD provides both short-term and long-term loans, which may be obtainable for purchase financing or construction financing.

SICD is particularly pleased to fund projects that provide considerable public benefits including:

• Affordable housing that helps to maintain a diverse economic base of residents
• Contribution to the revitalization of the City's business districts
• Creation of jobs
• Redevelopment of abandoned or underutilized property
• Support of neighborhood businesses

Real Estate Project Examples

Anytown Luxury Lofts
GFDC provided a $2.9 million BAM Loan to Maintime Development 20/20 (MD 20/20), for acquisition of the Anytown Luxury Lofts project. The initial phase of the project is now completed and includes 137 units of affordable loft-style housing and 11,000 square feet of ground floor commercial space. This first completed phase is part of an overall 9 acre project that will revive a once environmentally polluted area and renew it as an energetic mixed-use development, creating both affordable housing and many new jobs.

Perkins Hotel
GFDC provided a $1.47 million Loan to the Historic Anytown Foundation (HAF), to acquire the Perkins Hotel. The historic Perkins Hotel experienced severe damage during the 1999 Mobito Fire and required considerable repair. Upon completion of the remodel/rebuild project, the Perkins Hotel became the new home of the Guza National Fire Museum. It also now houses the Gold Lions' regional headquarters.