Officials broke ground on the Dr. Iola Jones affordable housing community at a 6.6-acre site in North Florence on Wednesday, October 28, 2026. The $20.5 million project will replace the aging Oakland Place apartments with 64 modern units. The ceremony marked the official start of demolition and new construction, with completion projected for January 2028.
The project is a collaborative effort between private businesses, public officials and nonprofits, according to the Post and Courier. Paces Preservation Partners, a strategic partnership between The Paces Foundation and Soho Housing Partners that works with local housing authorities to redevelop public housing, is leading the effort alongside the Housing Authority of Florence, according to EIN Presswire. Financing for the redevelopment comes from Berkadia, which arranged financing through Freddie Mac, as well as Advantage Capital and JPMorgan Chase, per the same announcement.
Why Oakland Place Had to Go
Oakland Place was originally built in 1972, and the Post and Courier reports the complex needed replacement because of old plumbing and electrical issues. EIN Presswire's announcement adds that some of the building materials may contain asbestos, calling the property in need of a complete makeover. The new development will rise on the same 6.6-acre footprint, sitting adjacent to Iola Jones Park, per the Post and Courier.
Four new residential buildings will contain one- to four-bedroom floorplans, according to EIN Presswire. The community will also include a community center with a computer room, an exercise gym, a covered picnic and grilling area, and a playground, the Post and Courier reports.
Income Limits and a Lingering Discrepancy
EIN Presswire's announcement states that all units are reserved for residents who earn 60% of the area median household income or less. However, Here Florence reported that every unit is set aside for households earning up to either 40% or 60% of the area median income, a discrepancy that has not been resolved between the two accounts. The Post and Courier reports the units will feature modern energy-efficient appliances and central HVAC.
Housing affordability has been a persistent challenge across the county. A 2025 strategic plan from the Housing Authority of Florence found that 42% of Florence County renter households were cost burdened in 2023, including 22% severely so. The same study put the countywide multifamily vacancy rate at 6.1%, describing it as a relatively tight rental market, and noted that the median sale price for a single-family home across the six-county Pee Dee Region jumped 39% from 2020 to 2024, reaching $222,500.
A Name Tied to Family and Community
The new complex will be named after Iola Jones, described by the Post and Courier as a prominent community member and social worker. Florence Mayor Lethonia Barnes, 61, is Jones's niece, according to the same report. Reverend Calvin Robinson, chairman of the board of commissioners for Florence's housing authority, closed the groundbreaking ceremony with a prayer, the Post and Courier reports.
The Post and Courier identifies Alphonso Bradley as executive director of the Housing Authority of Florence, while EIN Presswire's announcement refers to him as Dr. Al Bradley in the same role — a discrepancy in name and title that remains unresolved between the two sources. Per the Post and Courier, relocated Oakland Place residents can return to the new complex without a rent increase, and those who stay for two years will receive a voucher usable to move anywhere in the country.
Part of a Broader Investment Push
The Post and Courier notes that northern and eastern Florence have higher poverty levels than the rest of the city, and that the newspaper reported on a prior-day announcement of an $18 million investment in East Florence Park. Separately, Berkadia's own affordable-housing listings refer to a Florence project as the Dr. Lola Deas Jones Community, a naming variation from the Dr. Iola Jones title used elsewhere in project materials that has not been reconciled.
Earlier reporting from the Post and Courier had described a larger combined redevelopment plan covering both Oakland Place and the nearby Church Hill apartments, estimating Oakland Place's share at $27 million within an roughly $86 million total package; Church Hill, built in 1973, was slated for rehabilitation of its 166 units rather than demolition. That earlier coverage, along with a separate report from WPDE, said the partners expected to recoup their investment over 20 years through rent and Section 8 vouchers, with both projects expected to take roughly two years to complete. WPDE also reported that most Oakland Place residents would be able to remain in their apartments during construction, with some temporarily moving to neighboring units before returning once work was finished. The earlier coverage put Oakland Place's share at $27 million, while the current project is valued at $20.5 million.
