Charleston County is taking a step towards solving housing challenges by supporting a new project aimed at making homes more affordable. This move is expected to benefit many families in the coming years.
County Approves First Housing Project Under New Program
The Charleston County Council has approved its first project under the Attainable Housing Tax Abatement program. This initiative is designed to encourage developers to include affordable rental units in their projects.
The approved development, Cordelia on Rivers, will bring 129 new rental units to North Charleston.
Prime Location Near Future Transit Line
The project will be located close to the planned Lowcountry Rapid Transit line. This means residents will benefit from better connectivity and easier travel options in the future.
Being near public transport also makes the housing more attractive and practical for working families.
Focus on Attainable Housing
A key feature of this project is its focus on affordability. Around 41% of the apartments will be reserved as attainable housing for the next 15 years.
This includes:
- 21 units for households earning below 60% of the area’s median income
- 32 units for households earning up to 80% of the median income
This structure ensures that people from different income groups can find suitable housing.
Economic Benefits for the County
Officials say the project will also bring financial benefits. During the tax abatement period, the development is expected to generate more than 30 times the current property’s tax revenue.
This shows that such housing programs can support both community needs and local government income.
How the Program Helps Developers
The Attainable Housing Tax Abatement program works by reducing some of the financial burden on developers. In return, developers commit to including a certain percentage of affordable housing units.
This balance helps:
- Increase housing supply
- Keep rental prices more manageable
- Encourage responsible development
More Information for Residents
Residents who want to learn more about this program and other housing support options can visit the official Charleston County website. The county is actively working on solutions to improve housing access for its growing population.
