City of Charleston transfers land to become affordable housing

City of Charleston transfers land to become affordable housing

CHARLESTON COUNTY, SC (WCSC) - On Thursday afternoon the City of Charleston transferred land to the Housing Authority to develop new affordable housing.

City officials transferred about 1.4 acres of land near Meeting and Lee streets for the development of 60 units.

The city said the units will contain affordable rental and ownership housing for people living on the peninsula of Charleston with very low, low and moderate incomes.

“We are calling them Grace homes, the grace of God and also Mayor Grace, who the bridge was named after,” said Mayor John Tecklenburg.

The housing is an attempt to bring the community that was torn apart because of the Cooper River Bridge construction back together.

"I promised the people in that area that I would put housing back there to replace some of the houses that we lost," Councilman Robert Mitchell said."Because of the bridge, because I had some of the seniors that died, because they had to move from the area, because that was the third or forth time they had to move because of betterment."

The city is trying to help the people working in downtown Charleston live closer to where they work.

"This will really have some of the young people working in this community, the hotels and the restaurants be able to stay in the Peninsula" 

The housing will be for people making up to half of the Area Median Income, or AMI, of nearly $39,000. Meaning people making $19,000 or less can one day live in this new housing.

"You figure that 30 percent, they might be $300 per month on up, start at $300 a month for the low-income part and then you get to the work force part of it," Mitchell said. "Housing they might start that at 50 to 60 percent of the AMI which will be $600. So there will be a mixture."

The project is expected to cost between $15 - $16 million, and the City of Charleston has donated $2 million of that cost to invest in the property's future.

The construction is planned to start in the summer of 2018 and will take about two years to complete.

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