Steele Properties continues to monitor the current environment as the situation continues to change and evolve. We are, first and foremost, committed to the health and safety of our residents, team members, vendors, partners and the communities that we own and manage. We have adopted new policies and procedures during this crisis that follow the Centers for Disease Control and Prevention (CDC) recommendations and comply with all state and local government mandates to help reduce the spread of the virus.
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Belle Meade Apartments is currently undergoing extensive renovations, receiving over $54,000 per unit in hard cost rehabilitation as part of Steele Properties’ acquisition. The scope of the renovation encompasses both extensive exterior and interior work. Important building improvements include new kitchens and bathrooms, new flooring, new roofing, upgraded heating and air conditioning, and plumbing and electrical upgrades. Project amenities include a renovated community room with computer lab, upgraded laundry room, a new playground and picnic tables, as well as accessibility improvements in parking and common areas and security upgrades. Substantial site security upgrades also will be installed as part of the renovation.
This project is financed with 4% tax credits allocated by South Carolina State Housing Finance and Development Authority (SC Housing), tax exempt bonds issued by SC Housing, permanent and construction financing provided by Redstone Tax Exempt Funding, and tax credit equity provided by National Equity Fund (NEF).
Built in 1980, Belle Meade Apartments is a Project-Based Section 8 Family property consisting of 14, two-story buildings and 100 units with a mix of one-, two- three-and four-bedroom apartment homes on 12.9 acres. Belle Meade Apartments is located at 25 Fleetwood Drive in Greenville, SC 29605.