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Council hears first reading to extend Snow Street Apartments ground lease to 2055
Summary
First reading of Ordinance 1-20-26 would extend the ground lease for Snow Street Apartments (senior affordable housing on city land) by 10 years—moving the termination date to Nov. 26, 2055—without changing property use or transferring land ownership; staff and operator representatives said extension facilitates refinancing and retains city site control.
Greer City Council reviewed the first reading of Ordinance 1‑20‑26 on Jan. 13, a proposed amendment to the existing ground lease between the City of Greer and Snow Street Holdings LLC for the property at 306 Snow Street. The ordinance would extend the lease termination date from Nov. 26, 2045 to Nov. 26, 2055.
City staff described Snow Street Apartments as a senior affordable housing community operating on city‑owned land under a long‑term ground lease originally executed in 1995. Staff emphasized the ordinance would not change the property’s use, would not convey ownership of the land and would not obligate the city to future financial participation; the city retains site control under the ground lease.
Representatives from the Greenville County Redevelopment Authority and Senior Action, the property operator, attended to answer questions. Staff and the operator said the extension is intended to simplify refinancing options for the property and to “clean up” the legal structure while maintaining oversight and longstanding management roles.
Council heard supportive comments from members who noted the facility serves a community need (48 units); the item was presented for first reading and was received for discussion. Staff indicated they remain available for more detailed follow-up before second reading.
