City leaders cut ribbons on 7 new affordable homes in West Ashley

VIDEO: Leaders cut ribbon 7 new affordable homes in West Ashley

CHARLESTON, S.C. (WCSC) - New homes built in a West Ashley neighborhood are sporting a more affordable price tag.

City and community leaders cut the ribbon Thursday on seven new homes on Minnie and Sycamore Streets in the Ashleyville Maryville neighborhood.

The $1.6 million dollar construction was funded through community development block grants and fees required to be paid by developers.

“Affordable housing is a critical need in our community and a top priority of city government," Charleston Mayor John Tecklenburg said. "That’s why I’m so proud to be with you here today, as we cut the ribbon on these seven new affordable homes for our hardworking Charleston residents. And it’s why I’m honored to lead a city whose citizens are so deeply committed to preserving and expanding the supply of affordable housing throughout our area.”

The homes were made available to families that earn up to 80 percent of the Area Median Income. According to an income limits document from the city’s Department of Housing and Community Development, the maximum income allowed for a family of four to be eligible would be $59,600.

“I’m just excited because when I see a person get a home to live in, it’s a great asset and owning a home means a whole lot to a family,” Charleston City Councilman James Lewis Jr. said.

The new construction includes four 3-bedroom, 2.5-bathroom houses at 1,100 sq. feet and three 2-bedroom, 2.5-bathroom houses at 1,000 sq. feet.

Contracts for three of the seven homes were still being finalized, Charleston spokesperson Cameron Wolfsen said. Of the four contracts that were finalized, sale prices listed on contracts ranged between $153,578 to $201,637. But Wolfson noted the amount the buyer actually financed is different from the sale price because the city provided subsidy or down payment assistance to each buyer.

City leaders said the homes will remain affordable through a 90-year restrictive covenant.

You can also contact the Department of Housing and Community Development’s Housing, Development Officer, Florence Peters at 843-724-7353, Wolfsen said.

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