Beaufort Memorial, Woda Cooper Kick Off Construction for LiveWell Terrace in Bluffton

Construction begins for workforce housing project tailored to healthcare professionals

Beaufort Memorial and Woda Cooper Companies, Inc. kicked off construction for LiveWell Terrace last week, a new 120-unit affordable housing community in Bluffton.

Local officials, financing partners, investors and other community supporters drew together on June 11 to recognize the $39 million investment that will help address the critical affordable housing shortage in Beaufort County.

LiveWell Terrace, located along Buckwalter Parkway, will consist of 30 one-bedroom units, 60 two-bedroom units and 30 three-bedroom units, built on 6.9 acres of land provided by Beaufort Memorial. Rents will range from $700 to $1,725 per month, with amenities including a business center, fitness facility, playground and community park.

The units are open to all eligible renters, and the development will also feature medical office space dedicated to further expanding access to primary care services in southern Beaufort County.

“The Lowcountry’s rapid growth is driving unprecedented demand for both healthcare services and the workforce needed to provide them, while simultaneously intensifying the region’s housing challenges,” said Beaufort Memorial President and CEO Russell Baxley. “Addressing these issues requires strong, forward-thinking partnerships like our collaboration with Woda Cooper Companies. Working together, we’re creating innovative solutions that help attract, support and retain the healthcare professionals our community depends on today and in the future.”

Representatives from the Town of Bluffton addressed groundbreaking attendees, highlighting the impact that a development like LiveWell Terrace will have on the town’s growing population and evolving healthcare needs.

“This project is another key piece in tackling the housing crisis in our region,” said Victoria Smalls, Town of Bluffton Affordable Housing Director. “This is a close-knit community, and we are thrilled to see quality affordable housing like this become available in our market.”

Investing in the Lowcountry’s Workforce

LiveWell Terrace was made possible with funding support from Low-Income Housing Tax Credits allocated by the South Carolina State Housing Finance and Development Authority.

“Every investment in housing drives our state forward, so it’s thrilling to see a new construction project like LiveWell Terrace come to life and welcome new residents,” said Robert MacDonald, Executive Director of SC Housing. “We’re happy to be a part of something that’s building stronger communities that lower and moderate-income residents can afford and are proud to call home.”

Affordable housing investors Red Stone Equity and Sugar Creek Capital are providing equity investment for the project.

“Tax credit equity is a critical component in our capital structure that allows us to charge rents that are affordable for working families,” said Tommy Lowmon, Senior Vice President with Woda Cooper Companies. “Both Red Stone and Sugar Creek are long-term partners, and we appreciate their trust and confidence in our ability to deliver high-quality housing.”

TD Bank is Red Stone’s equity investor, also providing loan funds for LiveWell Terrace.

“At TD, we’re passionate about making sure families and individuals in the Lowcountry have access to quality, affordable housing,” said Suzanne Lynch, Senior Loan Officer with TD Bank U.S. “With this project and with $32 million in funding to our partners at Woda Cooper Companies, we’re helping 120 individuals and families find a true place to call home. With so many renters in the area feeling the pinch of high housing costs, this project is an example of how we’re working to open new doors and create more opportunities for South Carolinians.”

Cedar Rapids Bank & Trust is providing the first permanent mortgage for the project. Parks-Player Architecture & Planning LLC was the architect, with civil engineering by Carolina Engineering Consultants and sustainability consulting by Sol Design + Consulting.

Woda Construction, Inc. was general contractor and Woda Cooper’s management division, Woda Management & Real Estate, oversees leasing and property management.

For more information about leasing, visit wodagroup.com or call 231-655-2980.

Learn how Beaufort Memorial is investing in the future of healthcare across the Lowcountry through new facilities, workforce initiatives and expanded access to care.