CHARLESTON, S.C. (WCBD) – Local municipalities are coming together to form the state’s first Multi Governmental Agency to resolve the Affordable Workforce Housing Crisis.
Officials from the City of North Charleston, the City of Charleston, the Town of Awendaw, the Town of Hollywood, and Charleston County will meet on Thursday to discuss the initiative.
The group is proposing a Ten-Year Development Plan, set to commence in 2020.
With the help of “strategic partners and business leaders,” the Plan would oversee the building of 12,000 “new single and multi-family housing units…designed to provide diverse and affordable workforce housing opportunities.”
The homes constructed or renovated as part of the plan are expected to start at around $170,000.
The plan could also provide down payment and closing cost assistance to eligible applicants in Charleston County.
According to the press release, “buyers may be able to pay as little as $100 down.” Government employees, first responders, and current/retired military members could be eligible for down payments as little as $1.
Officials expect to fine tune the information as the plans develop.