New Affordable Housing in Charleston

As Charleston’s population grows, so do housing prices and rental costs, creating significant pressure on the city’s administrative authorities, who work daily to bring more affordable housing to the entire community.

To address the issue of affordable housing in Charleston more comprehensively, its namesake county has created an initiative aimed at improving housing options in the city and various parts of the region.

Recently, the County Council approved over one million dollars in federal funds for affordable housing projects, with the goal of constructing around 66 affordable properties for rent and purchase. To implement this, the program will involve the Charleston Redevelopment Corporation, which is responsible for securing the land where the affordable housing projects will be developed.

According to statements from the director of the Green Belt Program of Charleston County, the money from these federal funds will be allocated solely for the acquisition of land or properties where affordable housing will be developed, aiming to address part of the crisis in Charleston and other areas.

Since the funds will not be used for the construction of these affordable homes, the administration allows both for-profit and non-profit companies to develop housing projects and demonstrate the financial viability of their proposals, subsequently providing them with financial assistance or support for their execution.

Currently, with the initially approved funds, there are simultaneous efforts underway for four affordable housing projects in Charleston County: Murray Hill and Accabee, West Ashley Multifamily Workforce, North Charleston Townhomes, and East Cooper Tower Drive.

In addition to these projects, there is still a budget available to accept more proposals seeking to develop additional affordable housing. If the administration, after analyzing the viability of the submitted projects, finds that there are still insufficient resources for their execution, it will request the County Council to allocate more resources for them.

Many people see this new county initiative as a hope for finally obtaining more affordable housing, although they recognize that more joint efforts between the private and public sectors are needed to better meet the housing needs of all residents of Charleston County and its main areas.

Available Foreclosures:

Charleston: 120 homes available

North Charleston: 85 homes available

Mount Pleasant: 45 homes available

West Ashley: 60 homes available

By Elías DaSilva | 02 de diciembre de 2024.