News Release

Town of Hilton Head Island, OneStreet Residential, LLC advance 65-year Ground Lease for Northpoint on Jarvis Creek

Site mobilization and development for new workforce housing public-private partnership to begin Jan. 8 and groundbreaking scheduled for Feb. 12

January 7, 2026

The Hilton Head Island Town Council and OneStreet Residential, LLC have reached an agreement on covenants and a long-term ground lease for Northpoint on Jarvis Creek (Northpoint). These final steps enable the construction and long-term management of a 157-unit workforce housing neighborhood on an 11-acre tract of Town-owned land at Northpoint Circle. A groundbreaking ceremony is scheduled for Feb. 12, 2026. Construction mobilization and site work will begin Jan. 8.

"Northpoint will be a vibrant neighborhood offering activities, programs and amenities designed to help its residents connect with each other, with proximity to the Island Recreation Center, the Boys and Girls Club, our public schools, as well as Town parks and pathways, “said Hilton Head Island Mayor Alan Perry. “On behalf of Town Council and our entire Town team, we extend our gratitude to OneStreet and RBC Community Investments for their willingness to think outside the box and work with the Town to achieve this important milestone.”

As part of the public-private partnership, the Town is providing the project vision, zoning entitlements, a 65-year ground lease, $1 million to support eligible site work with contributions secured from the American Rescue Plan Act (ARPA) Fund, affordability covenants to maintain a workforce neighborhood in perpetuity, and long-term monitoring and programming support.

OneStreet Residential, LLC’s role involves design oversight, permitting, financing, project management, construction, lease-up, programming, and property management.

“There is a place here for everyone who represents the full community, and it will be built to Hilton Head Island standards with everything people love about the community embodied in everything we did,” said OneStreet Managing Partner Brendan Barr. “Recent housing costs have challenged essential workers on the Island from being able to enjoy shorter commutes and a better quality of life. Northpoint will open the doors to that opportunity for more than 150 households. OneStreet is honored to have been selected by the Town of Hilton Head to co-develop this attainable housing community that will positively benefit the Island far beyond the residents who choose to call it home.”

In late summer, OneStreet and the RBC Community Investments program announced a unique financing and equity partnership to advance the development of this new workforce housing neighborhood. A longtime supporter of Hilton Head Island’s economic development through the annual RBC Heritage Golf Tournament, South Carolina’s premier PGA Tour event, RBC Community Investments is providing the financial tools and resources necessary to begin construction on the neighborhood. Northpoint is RBC Community Investments’ first nontax credit workforce housing initiative, which is intended to increase the supply of housing for middle-income families.

“We’re very proud to work alongside our long-standing partner OneStreet Residential to deliver essential workforce housing to Hilton Head Island. This is a new investment execution we will replicate in other markets,” said RBC Community Investments Managing Director Brian Flanagan. “RBC has a deep connection with the Hilton Head community. As title sponsor of the RBC Heritage for over 13 years – the largest economic-driving event in South Carolina – RBC has directly helped enable the Heritage Classic Foundation to continue its charitable endeavors in the Lowcountry. We’re thrilled to have our RBC Community Investments team involved in creating future success stories on the Island through our work and investment at Northpoint.”

Upon completion, Northpoint is slated to offer 157 units, comprised of one, two, and three-bedroom apartments with rental rates attainable for households with incomes ranging from 60 to 150 percent of the Area Median Income (AMI). Based on Beaufort County’s 2025 AMI, a family of three could earn between $59,520 and $148,800 to qualify to live at Northpoint and enjoy amenities and programming that prioritize a high quality of life for the Island’s workforce, including teachers, law enforcement, hospitality workers, skilled tradesmen, and health care providers. Rental rates are expected to range from approximately $1,600 to $3,600 per month, depending on household income and number of bedrooms. At least 50 percent of the units will cater to households earning between 60 and 80 percent of the AMI.

Northpoint will be unique among workforce housing-related developments as it will consist entirely of workforce housing. For the first three years, residents must be employed on Hilton Head Island to live at Northpoint. After that time period, if the property manager cannot identify an eligible tenant who meets the Town’s workforce housing community standard (defined as persons employed and working within the municipal boundaries of Hilton Head Island), the ground lease establishes a limited, time-bound exception process. If a unit becomes vacant and no qualified Hilton Head Island workforce household is on the waiting list, and no eligible tenant contacts the property manager within forty-five days, the unit may be leased for a twelve-month term to an income-qualified tenant employed within Beaufort County. At the end of that term, the property manager must again make commercially reasonable efforts to lease the unit to a tenant who works on Hilton Head Island.

"Through this public-private partnership and careful planning, we are assisting with workforce housing by creating a best-in-class neighborhood for our Island’s workforce while maintaining the high standards of environmental and architectural quality our community expects," said Town Manager Marc Orlando.

Additional collaborators for Northpoint include Beaufort County, Hilton Head Public Service District, and the Beaufort Jasper Housing Trust.

Northpoint features will include:

• Energy efficient, resilient design with solar components and high-quality architecture and construction.
• A pool and outdoor communal spaces with grilling, dining stations, pavilions, seating, and playgrounds to foster social interaction and a sense of community among residents.
• Functional open spaces with views of Jarvis Creek and a neighborhood park with walking trails and fitness stations, and a community garden to encourage residents’ health and wellness.
• Onsite property management and a multipurpose community center with high-speed internet and programs tailored to residents’ needs.
• Integration of stormwater eco-infrastructure, such as bioswales to enhance the landscape while capturing, treating, and infiltrating stormwater runoff.
• An attractive green infrastructure strategy, including pervious materials and water-neutral site features.
• Onsite recycling and trash facilities.
• Pedestrian and bike-friendly infrastructure.
• Electric vehicle charging stations.
• An onsite trolley stop encouraging the use of public transportation.
• Native landscaping and minimal turf grass to reduce water consumption from irrigation.
• Well-lit entrances, landscaped pathways and parking areas to promote safety.
• Laundry appliances within each unit for residents’ convenience.

The development of this new workforce housing public-private partnership advances workforce housing opportunities through a balanced and long-term approach that supports economic vitality and community well-being, as outlined in the Town’s 2026-2028 Strategic Action Plan.

To learn more, visit hiltonheadislandsc.gov/northpoint/ or watch a video about the development on the Town’s YouTube Channel.

About OneStreet Residential
OneStreet Residential is an Atlanta-based owner, developer, and property manager focused on creating best-in-class, boutique-scale communities people love to call home. Since 1988, OneStreet has been dedicated to positively impacting the lives of its residents, associates, and neighbors one community at a time. OneStreet takes pride in crafting sustainable living spaces that become assets to their surrounding neighborhoods long after the communities open. OneStreet has created more than 130 communities representing over $1 billion in investments, a majority of which are workforce and mixed-income communities located throughout the Southeast. For more information, please visit onestreetres.com.

About RBC and RBC Community Investments
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. As Canada's biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com.

RBC Community Investments is part of the Municipal Finance team within RBC Capital Markets, the investment banking arm of RBC. RBC Community Investments is a leading syndicator of Low-Income Housing Tax Credits, Renewable Energy Tax Credits, State Tax Credits, Historic Tax Credits, and New Markets Tax Credits and capital provider of Workforce Housing Equity Investments. By creating well-structured investments, our team of experienced professionals craft equity solutions that help drive the successful development of affordable multifamily communities and renewable energy projects nationwide. Please visit rbccm.com/communityinvestments.