Charleston County Approves $1.6 Million for Affordable Housing Initiative

Charleston Takes Steps to Tackle Affordable Housing Crisis

Charleston, SC—With soaring rent prices making it tough for many to find a place to call home, Charleston County is stepping up its game to bring more affordable housing into the mix. Thanks to a recent allocation of funds from the American Rescue Plan Act, big changes are on the horizon.

A Bold Initiative

At a recent County Council meeting held on November 21, officials approved a whopping $1.6 million to launch the Affordable Housing Land Acquisition Grant Program. This program aims to secure land specifically for affordable housing in partnership with the Charleston Redevelopment Corporation, a nonprofit that has been dedicated to creating more affordable living options.

The program was born from the county’s Housing Our Future Plan, which aims to tackle the pressing issue of affordable housing head-on. Eric Davis, the director of the county’s Greenbelt Program, noted that the move comes after the County Council identified land acquisition for such housing as a top priority.

Where’s the Money Going?

So, where is the money actually going? This first round of funding is creating opportunities for four different housing projects around the county:

• Iron Bridge Capitol: $500,000 for a multifamily workforce housing plan in West Ashley.
• Tesatura Capitol LLC and Ellavoz Impact Capitol LLC: $500,000 for a plan involving townhomes in North Charleston.
• Palmetto Community Action Partnership: $350,000 aimed at developing homes in the Murray Hill and Accabee neighborhoods.
• East Cooper Habitat for Humanity: $250,000 for single-family homes in Mount Pleasant.

These initiatives are set to deliver at least 66 new affordable housing units to the community, giving hope to many residents struggling to find reasonably priced options. What’s even more exciting is that all four projects must kick off construction within the next two years!

A Clear Need

Jenny Costa Honeycutt, a county councilwoman and chair of the county’s housing committee, expressed her excitement about the program, emphasizing that public-private partnerships could provide a stronger solution than government action alone. She noted the struggles of professionals like teachers, nurses, and police officers who often can’t afford to live close to their workplaces and drive long distances every day.

“You’ve got so many people coming from long distances in and out of the city to do those jobs,” Honeycutt shared. “This really is an important issue.”

Looking Ahead

With the $1.6 million now allocated, there remains $900,000 in ARPA funding still up for grabs. Davis mentioned that there are a few more applications in the pipeline, and he hopes to return to the County Council next year to propose additional awards.

Once all the funds are allocated and projects get underway, county staff will review the program’s effectiveness, evaluating what worked and what didn’t, before considering future funding options. “If we continue the program, it will be up to the county for future funding,” Davis noted.

As Charleston continues to experience growth and change, initiatives like this one are essential for maintaining a vibrant community where all residents have access to affordable living conditions. It’s a small but significant step in the right direction for the county’s affordable housing landscape!

For ongoing updates on affordable housing and community initiatives, stay tuned!