7-floor affordable housing project approved for downtown Charleston
CHARLESTON, S.C. (WCSC) - There’s a lack of affordable housing in the city, region, and around the country. The largest provider of homelessness services in Charleston, One80 Place, is looking to help.
One80 place got final approval from The State Fiscal Accountability Authority for a new affordable housing project located at 573 Meeting Street.
The building will have seven floors with 70 units. There will be studios, one-bedrooms, and two-bedrooms targeted for low-income individuals moving out of homelessness. Tenants will pay a minimum of 350 dollars a month, but no more than 30 percent of their income.
“We’re really targeting people with 30 percent and below with the area median income because that’s where we really see the gaps,” said Selena Wilson, Chief Program Officer at One80 Place.
It will also have a shelter space for homeless families and women in addition to the apartments. One80 Place said this will help women and children take their first step towards finding a more permanent home.
“It also gives former homeless clients the opportunity to engage with homeless clients so they can share their experience as well,” Wilson said.
Stacey Denaux, the CEO of One80 Place, said the project is funded through a combination of federal tax credits, state tax credits, private sector money and City of Charleston bond referendum money.
“We hope it is an opportunity to demonstrate true public private partnership in a way to leverage private sector funding along with tax credits and other sources of public funding to build truly affordable housing,” Denaux said.
Denaux said the project has been waiting for state approval the spring of 2020.
“We know that we need as many affordable housing units as we can provide and One80 Place has really stepped forward to help to meet this need. And we’re very happy to be investing in this project,” said Matt Ojala, deputy director for Housing and Community Development for the City of Charleston.
Ojala said one of the leading causes of homelessness is affordable housing. He said the city is working to find solutions.
“The number one priority for the city is to increase the amount of affordable housing in the city. By doing that, we can also address some of the homelessness issues we see throughout our communities,” Ojala said.
One80 Place says they’re expecting the project to be completed by the end of 2023 or the beginning of 2024.
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