Mayor John J. Tecklenburg, along with members of Charleston City Council and community leaders, held a ribbon cutting ceremony for seven newly constructed affordable homes on Minnie and Sycamore Streets in the Ashleyville Maryville neighborhood in West Ashley, May 16, 2019.
Construction of these new affordable homes was funded through Community Development Block Grants, the HOME Investment Partnership Program and fee-in-lieu funds. The fee-in-lieu provision was added to the city’s Mixed Use Workforce Housing Ordinance in 2017 to require developers to pay a fee in lieu of building affordable units to be used by the city to create additional affordable housing.
Mayor Tecklenburg said, “Affordable housing is a critical need in our community and a top priority of city government. That’s why I’m so proud to be with you here today, as we cut the ribbon on these seven new affordable homes for our hardworking Charleston residents. And it’s why I’m honored to lead a city whose citizens are so deeply committed to preserving and expanding the supply of affordable housing throughout our area.”
The homes were made available to families that earn up to 80 percent of the Area Median Income and will remain affordable through a 90-year restrictive covenant.
Designed by Meadors Construction Corporation and built by Bordon Construction and Management, LLC, the new construction includes seven single family houses: four 3-bedroom, 2.5 bathroom houses at 1,100 sq. feet and three 2-bedroom, 2.5 bathroom houses at 1,000 sq. feet.
The total cost of the project was $1,648,687.07, including $185,000 in land acquisition costs, approximately $1,300,000 in construction costs, and other pre-development costs.