Charleston, South Carolina — Charleston County is finalizing the terms of a 6-acre land sale to the City of Charleston in order to create approximately 900 new affordable housing units at 993 and 995 Morrison Drive.
Charleston County and city are working to finalize a $30 million land transaction for affordable housing (WCIV).
In October 2024, Charleston Mayor William Cogswell initially offered Charleston County $20 million for the property. The offer then increased to $30 million.
In an executive session Tuesday night, the Charleston County Council discussed the potential sale agreement but did not take any action.
Charleston County and the City of Charleston have been in negotiations over the land on Morrison Dr. for about a year. The county council approved the sale of land at its March 11 meeting.
The city would collaborate with the Charleston Housing Authority on the Morrison Drive lot to build mixed-income housing, with 50% at market rate and 50% at affordable rates.
According to Cogswell, the county’s forthcoming contract requires affordable housing.
“We’ll actually do more than what is outlined in the contract,” according to the mayor. “The only concern we now have with the county is that there was a tiny discrepancy in property assessment due to the affordable housing restriction. So we’re working with them to come up with a reasonable number for both parties, because I believe we all want the same thing.”
According to a presentation made by the city to the housing authority, the property will be developed with approximately 893 housing units.
The city emphasizes that the housing units created will be a combination of Charleston single homes, cottages, and duplexes that reflect the city’s historical architecture.
The land would be a cornerstone of Cogswell’s Affordable Housing Initiative, which aims to develop 3,500 affordable dwellings by 2032.
The timing for the development of the additional affordable housing is currently undetermined, while the sale is still pending and the Charleston Housing Authority searches for a new CEO.
