“No more waiting”: Charleston drops $635K to jumpstart housing for the future
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Charleston County is tackling its housing crisis with a ground-level solution: buy the land before it becomes unaffordable. This week, County Council approved $635,000 in grants to support the acquisition of land for affordable housing. The funds will be split across three projects that aim to create a mix of homeownership and rental units. Each project is required to break ground within two years and maintain affordability for at least 20 years.
This funding comes from the Affordable Housing Land Acquisition Grant Program, part of the county’s broader Housing Our Future Plan. That strategy estimates Charleston County will need over 30,000 new affordable units by 2033. With the local population expected to grow by 75,000 residents by 2045, the gap between housing demand and supply continues to widen.
“Land is scarce. There’s competition from roads, commercial development, and green space,” said Eric Davis, director of housing and land management for the county. “Affordable housing must be part of the infrastructure.”
Three projects, one long-term commitment
The grants are going to three developers. The Town of Ravenel plans to construct 23 homeownership units. Palmetto Community Action will build townhomes on Taylor Street. HLS Commons will develop a single-family home and a duplex. The mix of ownership and rental housing is intended to serve families earning up to 120 percent of the area median income.
While modest in scope, these projects are structured for long-term impact. They will be restricted to affordable and workforce housing for no fewer than 20 years. Charleston Redevelopment Corporation is overseeing the application process and grant distribution. CEO F.A. Johnson II said the county’s approach targets one of the most difficult barriers developers face.
“We cannot reduce what it costs to build a home,” Johnson said. “But we can eliminate land costs. That is where real affordability begins.”
Cost pressures threaten affordability
Even with the land covered, the economics of building affordable housing remain difficult. Labor shortages, high material costs, and inflation continue to strain project budgets. The National Association of Home Builders reports that construction expenses have risen nearly 20 percent since 2021. For affordable housing projects with fixed rent or sale price targets, those increases are harder to absorb.
That is why Charleston County’s model emphasizes long-term affordability from the beginning. Grant recipients must maintain affordability through legal restrictions that prevent resale or rent escalation outside of defined income brackets.
Still, the grant’s backers say the program is about more than economics.
“At the end of the day, this is about changing lives,” Johnson said. “It is about giving kids a place to grow up and parents a place to create memories.”
Funding still available, but time is ticking
Charleston County still has $765,000 available for land acquisition grants. Applications remain open through the end of the year, but officials urge developers and community organizations to apply quickly. As land prices rise, the opportunity to act gets smaller.
With this initiative, the county is placing its bets on a future that includes affordable housing as core infrastructure, not an afterthought. Whether that future arrives on time depends on how quickly the groundwork is laid today.
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