Synovus Backs $16.3M LIHTC Investment and $15.5M in Loans for 80-Unit Affordable Housing Development in Columbia, SC
Synovus, operating as a legacy entity of Pinnacle Financial Partners, marked the grand opening of Addison Pointe, an 80-unit affordable housing community located on Percival Road in Richland County, Columbia, South Carolina, the firm announced April 10, 2026.
The development, built by Connelly Builders, was financed through a Low-Income Housing Tax Credit (LIHTC) equity investment totaling $16.3 million, a $2.4 million construction loan, and a $13.1 million bridge loan — bringing total debt financing to $15.5 million.
Financing Structure and Community Reinvestment Act Alignment
Addison Pointe is designed to serve residents across a range of income levels, with units designated for households earning between 20% and 70% of area median income, targeting individuals and families with the greatest housing need in Richland County. The project supports Community Reinvestment Act objectives by increasing the supply of affordable housing and strengthening the economic stability of the surrounding community, according to the firm.
Regional Leadership Highlights Community Impact
John Griggs, regional president for central South Carolina, attended the grand opening ceremony and addressed the development's broader significance.
"Expanding access to quality, affordable housing in Richland County creates not only long-term value for our neighbors who will live at Addison Pointe but for the entire community," Griggs said.
Post-Merger Context: Pinnacle Financial Partners and Synovus
The Addison Pointe financing comes after Pinnacle Financial Partners completed its merger with Synovus Financial Corp. in 2026, combining more than 160 years of banking history. The combined institution operates as a $119.1 billion asset regional bank with offices across nine states — Tennessee, Georgia, Florida, North Carolina, South Carolina, Alabama, Kentucky, Virginia, and Maryland.
Pinnacle Financial Partners holds the No. 1 deposit market share in the Nashville MSA and ranks No. 4 in the Atlanta MSA, according to FDIC data as of June 30, 2025. The firm is the largest bank headquartered in Tennessee and, following the Synovus merger, the largest bank holding company headquartered in Georgia.
Pinnacle Financial Partners ranks No. 12 on FORTUNE magazine's 2026 list of 100 Best Companies to Work For in the U.S., marking its ninth consecutive appearance on the list. The firm was also recognized by American Banker as No. 4 among America's Best Banks to Work For in 2025 — its 13th consecutive year on that list — and ranked No. 1 among banks with more than $10 billion in assets.
Pinnacle Financial Partners provides a full range of banking, investment, trust, mortgage, and insurance products and services for commercial and consumer clients. More information is available at PNFP.com.
Sources: Pinnacle Financial Partners / Synovus – Addison Pointe Grand Opening Press Release, April 10, 2026