CHARLESTON, S.C. (WCSC) - A new affordable housing development is set to be built right in the heart of downtown Charleston.
The city of Charleston bought property at the end of F Street two years ago with a goal to build affordable housing near the future Lowcountry lowline.
On Tuesday, city council approved a 60-year ground lease agreement with a developer to build 55 apartments on the site. The vacant land that will be used sits right behind an affordable housing complex on King Street that is owned by the Charleston Housing Authority.
Charleston Housing & Community Development Director Geona Shaw Johnson says the city has been working to ensure that affordable housing and workforce housing will remain part of the city’s demographics for years to come.
“One of the things we wanted to ensure is that we could address as strategically as possible the spectrum of affordable housing at this site,” Director of Housing and Community Development Johnson said. “We know based on where this site is located, it is located at the heart of downtown Charleston near hospitality industry and long-term communities.”
The apartments would provide housing for those earning 30% of the area median income as well as those who make 80% of the area median income. Some apartments would cater to some people making $17,000 while other units could be made for those making $45,000 a year.
At the end of the 60-year term, the property itself as well as the improvements would be returned to the city of Charleston.