News Summary
Charleston County is making significant moves to address the affordable housing crisis by initiating the sale of two properties on Morrison Drive. This strategic decision aims to create 500 affordable housing units as part of the city’s ambitious goal to roll out 3,500 units by 2030. Despite concerns about the properties being in a flood zone, local authorities remain optimistic about funding and construction plans to alleviate housing issues for residents.
Exciting Developments on the Horizon for Charleston’s Affordable Housing
Charleston, a vibrant city known for its rich history and charm, is now taking significant steps toward addressing its **_affordable housing_** crisis. The Charleston County has recently started discussions with the city about selling two properties located at **_993 and 995 Morrison Drive_** with the overarching goal of turning them into units that are more affordable for residents. This move comes as your local leaders recognize the pressing need for more housing options that won’t break the bank for the average citizen.
A Strategic Decision
On January 28, 2025, the Charleston County Council held a meeting and made a Momentous decision, voting unanimously to sell these properties for a price somewhere between **_$30 million and $35 million_**. It’s a considerable sum, but one that the council believes will serve the greater good of the community. This sale is not just about the financial gain; part of the proceeds is earmarked for **_county workforce_** and **_affordable housing projects_** which will benefit many residents in Charleston.
A Property with History
The properties at Morrison Drive have a long-standing connection with Charleston County, having been owned since 1996. While previous conversations regarding whether to sell or develop the land independently seemed to divide opinions within the council, clarity is finally beginning to form around its future and potential upcoming benefits.
Location Challenges
However, not all news is smooth sailing. One of the concerns that has been raised during discussions is the fact that these properties are situated in a **_flood zone_**. This poses implications for development, particularly for ground floor construction. Despite these challenges, local authorities seem committed to moving forward with plans that could offset these risks.
Progressive Vision from the City
Charleston’s Mayor originally made an offer of **_$20 million_** for the properties back in October 2024 but later upped the ante to **_$30 million_** in December. The initial proposal included two attractive options: the city could either purchase the properties outright or receive them as a donation, with the stipulation that the buyers would need to build a total of **_500 affordable_** and **_workforce housing units_** on the site. This aligns with the city’s ambitious goal of rolling out a whopping **_3,500 affordable housing units_** by the year 2030, indicating a genuine commitment to making housing accessible for everyone.
Hitting Housing Targets
The city has calculated its pressing need, estimating it will require **_584 affordable units yearly_** to reach its housing goals— and these properties on Morrison Drive are a crucial part of that equation. Here’s the kicker: recent appraisals have valued this prime land at **_over $38.5 million_**, leaving many to wonder if the county is making a smart move in negotiating this sale.
Funding Made Possible
How will the city make this work financially? Plans are already underway to tap into a special **_taxing district_** which currently boasts about **_$30 million_** in funds. Some of this money has already been committed to the **_Lowcountry Lowline project_**, making the strategy feel all the more community-focused. The beauty of these funds is that they can stretch beyond the designated district, allowing for valuable projects that will uplift all areas.
Looking Ahead
Charleston is also exploring the option of issuing bonds worth up to **_$38 million_** to support both the acquisition and development of these properties. As discussions continue to advance, city officials are optimistic that they will secure **_building permits within the next six months_**, paving the way for construction and progress on these homes.
With all of this in motion, residents of Charleston can expect to see more updates on this important conversation— as the community steps boldly into a future where families can find homes that are both beautiful and affordable.
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Additional Resources
- Post and Courier: Morrison Drive Affordable Housing
- Housing Finance: Partnership for Affordable Housing
- Live 5 News: Affordable Housing on Huger Street
- Count on 2: New Affordable Housing Projects in Downtown Charleston
- ABC News 4: One80 Place and Mayor Cogswell’s Affordable Housing Plan
- Wikipedia: Affordable Housing
- Google Search: Affordable Housing Charleston
- Encyclopedia Britannica: Affordable Housing
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