HREIF announces its investment in Boxcar, a 174-unit multifamily development in the Greenville-Spartanburg market. The property is strategically located along the 32-mile Mary Black Rail Trail, just south of the desirable Converse Heights neighborhood.

Boxcar is expected to benefit from $6.1 million in Textile Mill Tax Credits, reducing its per-unit basis and enhancing its long-term investment value. The development is well-positioned to capitalize on Spartanburg’s rapid population growth and increasing demand for quality housing.