Unlikely heroes bring affordable housing to the Peninsula
October 31, 2019
Unlikely Heroes Bring Affordable Housing to the Peninsula
One80 Place today announces a landmark affordable housing project thanks to a consortium of supporters that includes some of Charleston’s most generous citizens and organizations.
The $24 million project, known as 573 Meeting Street, will be a permanent home for more than 70 formerly homeless individuals. Most are homeless because of Charleston’s rising home costs. Charleston’s average rent is $1,700/month–$500 a month more than what a minimum wage job would pay a full-time employee. And its these jobs that power our hospitality economy.
In all, 70 units will be built in the six-story building. One of the six floors will be a dedicated family shelter that replaces the existing One80 Place Family Center that is overcrowded and plagued with maintenance problems.
Charleston Races to Help
Recognizing the importance of affordable housing to local residents, the City of Charleston allocated $3 million to the project from the $20 million affordable housing bond referendum passed in 2017. An additional $3 million was allocated when the City and the Local Development Corporation (LDC) reached a settlement this past summer regarding $22.8 million the LDC received when Belmond Charleston Place repaid its original 1984 federal loan to the City. Of the agreement, Charleston Mayor John Tecklenburg said, “This partnership with the LDC allows us to not only bring needed funding to address the critical workforce housing shortage, but also to support important projects across the City such as One80 Place." Most people expect government to be the only investors in affordable housing. However, what is unique and slightly unusual about this project is the philanthropic support it has received from local residents. These unlikely heroes from across the community responded to the call to help immediately. In a little over a year, 65 private citizens, corporations, and foundations have raised $4.3 million, just shy of the $4.5. million campaign goal.
A New Home on Meeting Street
One80 Place plans to break ground on the project next summer. 573 Meeting Street will be built just steps from One80 Place’s current location, on the site of its original shelter (which was demolished in 2017).
“We believe that our community’s most vulnerable neighbors deserve the best of what Charleston has to offer. Housing built specifically to support people moving out of homelessness is critical to ending homelessness, once and for all,” Stacey Denaux, One80 Place’s CEO.
Residents of 573 Meeting Street will have access to all One80 Place services including a health clinic, legal services, veterans’ services, and employment resources. These services will keep them housed permanently. Residents will earn no more than 50% of HUD area median income (AMI), or $27,300 per year, and spend no more than 30% of their income on rent.
The second floor of 573 Meeting Street will be a much-needed new family shelter for 65 single women and parents with their children. One80 Place’s current Family Center is too small and turns away, on average, 14 families each night. The current barrack-style shelter offers no privacy, which means children have no quiet place to do homework and a single crying baby wakes up everyone in the shelter. The new shelter will feature private space for families facing challenges.
The project, designed by LS3P, has received initial approval by the Board of Architectural Review. Spandrel Development Group will oversee construction of the building and The Michaels Organization, one of the nation’s largest affordable housing property managers, will oversee the day-to-day operations of the apartments.
Before ground can break officially, the private campaign must raise the remaining $200,000. Lindsey Carter, chair of the campaign and its lead donor, invites the public to invest in this permanent solution to ending homelessness. “I hope that by showing our family’s support that other families will step up.”
To learn more about the Welcome Home campaign, call Marco Corona at (843) 737-8380 or visit www.one80place.org/campaign.
About One80 Place
During the winter of 1984, a group of business, civic, and religious leaders, led by Charleston Mayor Joseph P. Riley joined forces to found what is known today as One80 Place. One80 Place’s mission is to end and prevent homelessness one person, one family at a time. Today, One80 Place provides shelter to about 160 men, women, and children each night. In addition to a meal and a safe place to sleep, One80 Place provides a health clinic, legal services, employment and education services that remove the barriers to permanent housing.
