Charleston County and Charleston Redevelopment Corporation announced the second round of housing grants. Charleston County is offering $1.4 million in new grants to encourage developers to apply for funding. The program focuses on securing land for affordable housing development throughout the county.
Highlights
- $1.4 million is available for the second round of affordable housing funding.
- The decision was made after a successful first round of the program.
- The program aims to secure land for affordable housing development throughout the county.
Charleston County Begins Second Round of Affordable Housing Funding
The second round of the affordable housing land acquisition grant program has been approved by Charleston County. The decision was made after a successful first round of the program, where $1.1 million was awarded. The first round of the program resulted in 32 attainable rental units and up to 12 attainable homeowner units for periods of 20 to 30 years.
Second Round of the Affordable Housing Land Acquisition Grant Program
The second round of the program was announced at the Canopy on Ashley apartments, which was transformed with the grants from the first round of the program. The funding allocated for this round is $1.4 million, with awards varying based on project size and scope. The funding awarded will depend on the project specifications and will capped at $250,000 for infill projects and $500,000 for multifamily developments.
The initial deadline for the application is June 23, 2025, by noon, with applications being accepted until all funding has been committed. The projects that will be funded must execute a contract agreeing to a minimum of a 20-year affordability period.
First Round Funding Results
Started in August 2024, the Affordable Housing Land Acquisition Grant Program was created to secure land for affordable housing development throughout the county. During the first round, the Charleston County Council granted $1.1 million to three projects that resulted in 32 attainable rental units and up to 12 attainable homeowner units for periods of 20 to 30 years.
About the Affordable Housing Land Acquisition Grant Program
The program invites for-profit and nonprofit organizations to apply for the development of affordable rental and for-sale housing developments. The aim is to provide housing needs to individuals and families experiencing homelessness or persons with special needs.
