The Charleston County Council has given the green light to allocate $1.6 million from the American Rescue Plan Act for the county’s Affordable Housing Land Acquisition Grant Program. This pilot initiative, developed in collaboration with the Charleston Redevelopment Corporation, aims to acquire land for affordable housing projects.
After a thorough application and review process, four projects have been chosen to advance as stated in the release.
The projects include:
- West Ashley Multifamily Workforce ($500,000)
- North Charleston Townhomes ($500,000)
- Murray Hill/Accabee Scattered Site Development ($250,000)
- East Cooper Tower Drive Site ($350,000)
“This pilot program — the first of its kind for Charleston County — demonstrates the power of innovation and the importance of finding creative solutions to tackle growing challenges like housing affordability,” said Charleston County Housing Committee Chair Jenny Costa Honeycutt in the release.
“By securing land for these projects, we are not only addressing an urgent need but illustrating how cross-sector collaboration can create meaningful, lasting change. I’m proud to see Charleston County leading the way and look forward to the transformational impacts these efforts will have across our region,” she said.
The initiative, available to both non-profit and for-profit entities with a background in creating affordable housing, aims to foster diverse infill and multifamily rental and homeownership options in Charleston County. All chosen projects for grant funding must initiate vertical construction within two years of signing their grant agreement.
Following input from the review committee, made up of CRC board members, county staff, local non-profit leaders, and a private sector lender, four more projects are still being evaluated.