The challenge of creating enough safe, affordable places for people to buy or rent in the Charleston region (and beyond) always revolves around money: where it can be found to pay for housing the private market won’t build.
It’s not uncommon for affordable housing projects to cobble together more than a half-dozen separate sources of financing, from government and nonprofit grants to favorable loan terms to tax credits. It’s a time-consuming, inefficient and costly exercise, but it’s often the only avenue.
Fortunately, more help is on the way. The Coastal Community Foundation has announced the creation of the Tri-County Housing Futures Fund, which hopes to raise at least $100 million over five years from private and nonprofit sources.