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New $50M fund aims to preserve affordable housing

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An image of apartment housing and a playground.

This initiative will help keep apartment rents stable for qualifying local residents.

Photo provided by Charleston Regional Development Alliance

The Tri-County region is taking action to protect affordable housing. How? On Tuesday, Sept. 23, the Charleston Regional Development Alliance officially launched the $50 million Charleston Workforce Housing Fund.

The goal: to preserve 1,000 apartments across the tri-county area and keep them affordable for working families earning 30-100% of the area’s median income.

By partnering with private investors, the fund helps essential workers (think: teachers, nurses, and hospitality employees) to continue to live + thrive here.

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