Charleston County piloting new affordable housing grant program

CHARLESTON COUNTY, S.C. (WCBD)- New affordable housing projects in Charleston County are eligible for hundreds of thousands of dollars in grant funding under a new countywide pilot program.

Charleston County, in partnership with Charleston Redevelopment Corporation, announced it has started accepting applications for the Affordable Housing Land Acquisition Grant Program, an initiative intended to support the development of affordable housing units.

including affordable rental housing for individuals and families experiencing homelessness or persons with special needs.

The funding can be used to acquire property rehabilitation and new construction of affordable rental, for sale, and supportive housing developments. These include single-family residences, fee-simple townhomes, other fee-simple multi-unit projects, multi-family rental developments, and infill housing.

In total, Charleston County Council has allocated $2.5 million for the pilot program, which will be available to for-profit and nonprofit organizations.

Individual award amounts will vary based on project specifications but will likely be limited to $250,000 for infill projects and $500,000 for multifamily projects.

All projects funded through the grant application must agree to a minimum 20-year affordability period, according to officials.

The deadline to apply for a land acquisition grant is Sept. 13 at noon. More information, including the application, can be found here.

Funding recommendations will be submitted to the county council for approval after the application period closes.