Turning our attention to some of the big affordable housing initiatives from around South Carolina that have been announced in the past few weeks.
Charleston saw the announcement of a new $100 million initiative is taking aim at the region’s growing affordable housing shortage. The Coastal Community Foundation of South Carolina has launched the Tri-County Housing Futures Fund, or THFF, with a goal of raising $100 million over the next five years to expand housing opportunities across Berkeley, Charleston and Dorchester counties.
Churchill Stateside Group, LLC, a real estate and renewable energy financial services company, announced the closing of a $4,850,000 Forward Permanent Loan for Azalea Park Apartments, a 64-unit affordable housing community in Summerville, South Carolina. Originally constructed in 2003, Azalea Park Apartments consists of eight two-story residential buildings offering two- and three-bedroom apartment homes for families earning up to 60% of the Area Median Income (AMI).
These are both great wins for our state.
