Affordable housing in downtown Charleston
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Evelyn Fernandez
Published: October 13, 2008
Starting Tuesday thru Thursday, the City of Charleston will begin accepting applications for condos at the “Cottages at Longborough.”
The condominiums are located in the Wagner Terrace neighborhood on the Charleston Peninsula. It used to be the site of Shoreview Apartments. There are twenty, 2 bedroom/2bath homes as well as twenty-two 3 bedroom/2baths available.
You must be a first time homebuyer (not owned a home in the past three years), meet HUD published income guidelines (income not to exceed 120% of the Area Median Income [AMI] of $58,400) pass a background check, attend a first -time homebuyer class, and have acceptable credit to qualify for a mortgage.
The price range of the condominiums is $112,500-$150,000 and the required minimum down payment is $2,500. The City of Charleston will provide down payment assistance to qualified households.
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