Charleston County Finance Committee Allocates Over $5 Million Toward Affordable Housing
Charleston County, S.C. – In a significant move to address the affordable housing crisis, the Charleston County Finance Committee has approved the allocation of over $5 million for the development of new affordable housing units.
On Thursday, the committee approved a funding allocation of $5.8 million towards the construction of 317 affordable housing units. This decision is part of the Gap Financing and Infill Development Program, which is supported by the American Rescue Plan Act.
Charleston County Councilwoman Jenny Costa Honeycutt emphasized the importance of this funding as part of the county’s broader Housing Our Future Plan. “This is one of the tools that we have in that toolbox using these ARPA funds to close the gap where financing either by state legislation changes or some other mechanism has not been able to fill the project need,” said Honeycutt. “And so we can come in and provide that additional resource so that the project can get done.”
Various community partners applied for this grant, with individual projects eligible for awards ranging from $500,000 to $1 million.
The allocation is scheduled for county council approval next Tuesday, which will determine the final green light for this initiative.
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This decisive move by Charleston County underscores the ongoing commitment to combating the housing affordability crisis and ensuring sustainable development across the region.
