Charleston nonprofit invests $55M in 3-year affordable housing plan

Hollie Moore // January 9, 2026//

Officials from the city of Charleston and Charleston Redevelopment Corp. dedicate four new housing units at 89 Fishburne St. (Photo/City of Charleston)

Hollie Moore // January 9, 2026//

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City of Charleston and Charleston Redevelopment Corp. deliver four new workforce housing units downtown
Partnership announced 200 additional affordable housing units over the next three years
Project includes $55 million in planned investment and $100,000 city contribution
Effort supports Mayor William Cogswell‘s goal of 3,500 affordable units by 2032

A partnership between the city of Charleston and the Charleston Redevelopment Corp., a community development nonprofit, has led to four new workforce and affordable housing units in downtown Charleston.

At the housing ribbon cutting, CRC also announced an additional 200 affordable housing units over the next three years with $55 million of investment.

“Affordable housing is one of my top priorities as mayor, and projects like this show we are turning that commitment into action,” Mayor William Cogswell said in the release. “This project shows what’s possible when state, city and nonprofit partners work together with a shared commitment to affordability.”

The city said the project was in collaboration with the South Carolina Department of Transportation, who previously owned the plot of land at 89 Fishburne St. The city also contributed $100,000 to the project’s construction.

Cogswell’s affordable housing initiative is expected to build 3,500 new affordable housing units by 2032, with these four being a part of that climb, according to the release.