Last week, Mayor William Cogswell made a move to address affordable housing by sending a letter of intent to Charleston County's administrator. The proposal involves purchasing properties at 993 and 995 Morrison Drive with the goal of creating 500 new affordable housing units. This initiative aims to provide accessible housing options and help retain residents in the city.
Earlier this month, the City of Charleston, along with Bloomberg Associates, announced ambitious targets to tackle the housing crisis. The crisis has been worsened by an influx of higher-income newcomers, which is pushing longtime residents out due to low housing supply. This displacement affects lives and burdens infrastructure, leading to increased traffic congestion and longer commutes. A study by the Charleston Metro Chamber of Commerce revealed that local commuters now spend up to 25% more time on the road during peak hours compared to 2018.
In his letter dated October 10, 2024, Mayor Cogswell expressed his commitment to investing $20 million to address 15% of the city's affordable housing needs. He proposed two options for acquiring the 6.4-acre properties: either purchasing them for $20 million or receiving them as a donation from the County. In both scenarios, the City would invest an equivalent amount in construction costs for the units.
Mayor Cogswell stated, “Teachers, firefighters, hospitality workers and more are being pushed further away from where they work due to our affordability crisis. That puts more cars on the road, adds to urban sprawl, and makes it more difficult for employers to hire. Creating affordable housing within our city will lessen these issues for our small businesses, our residents, and ease the strain on our infrastructure.”
The site is located near existing work centers and a CARTA transit line. Currently an empty parking lot that once housed the County’s Circuit Court, the development will include a permanent affordable deed restriction on all 500 units to ensure long-term affordability for the community.
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