South Carolina Construction News staff writer
In a move to tackle the city’s affordable housing crisis, Charleston Mayor William Cogswell has submitted a letter of intent to Charleston County’s administrator, proposing the purchase of 993 and 995 Morrison Dr. If approved, the land would be used for 500 new affordable housing units.
In an Oct. 10 letter, Cogswell outlined a plan to invest $20 million to address 15 percent of the city’s affordable housing needs. The proposal includes two options for the 6.4-acre site: a direct purchase for $20 million or an alternative involving a donation from the county, with the city matching that amount for construction costs.
“Teachers, firefighters, hospitality workers, and others are being pushed further away from where they work due to our affordability crisis,” Cogswell wrote. “That puts more cars on the road, adds to urban sprawl, and makes it more difficult for employers to hire.
“Creating affordable housing within our city will lessen these issues for our small businesses, our residents, and ease the strain on our infrastructure.”
This initiative aligns with recent efforts by the City of Charleston and Bloomberg Associates, who announced ambitious targets to confront the housing challenges intensified by an influx of higher-income newcomers that increased demand and displaced longtime residents.
A study by the Charleston Metro Chamber of Commerce showed that local commuters now spend up to 25 percent more time on the road during peak hours compared to 2018.
The proposed site, currently an empty parking lot that previously served as the County’s Circuit Court, is strategically located near existing work centers and the Charleston Area Regional Transportation Authority transit line. The development plan includes a permanent affordable deed restriction on all 500 units.
The city is now waiting for a response from Charleston County regarding the proposal and potential next steps in this crucial initiative.
