Local, County, State officials to join Mayor Cogswell, Jr. to break ground on city’s latest affordable housing project
February 12, 2024
100% Affordable Senior Housing Community coming to Johns Island through a strategic partnership by Sea Island Comprehensive Health Care Corporation, Ward Mungo Construction, and Nix Development Company
On Thursday, Feb. 15, 2024, at 11:00am, Mayor William S. Cogswell, Jr. will join the family of Esau Jenkins, Councilmembers Jim McBride and Keith Waring, Charleston County Council Chair Joe Boykins, SC Housing’s Executive Director Richard Hutto, financial contributors, development team members, and local stakeholders at 3627 Maybank Highway to celebrate the groundbreaking of Esau Jenkins Village. Named in honor of the Johns Island community development icon, Esau Jenkins Village will feature 72 new, affordable apartments for seniors 62 and older.
“In the spirit of the work of Esau Jenkins, this project showcases how our city can collaborate to find solutions and take care of those most in need. Providing affordability for seniors is an admirable goal and I am grateful for all that worked on this project,” said Mayor Cogswell. “This project is an example of the kind of quality and care from a Charleston that takes care of its residents. Not only will it provide affordable amenities, but it will also provide a sense of community.”
100% of the 72 units will be restricted to households earning up to 60% of AMI. The community will have 61 one bedroom and 11 two-bedroom apartments. The resident amenity building will provide residents with on-site property management, a multi-purpose community room, a fitness center, a computer station, walking trail, and outdoor gathering space.
“As one of the largest syndicators of Low-Income Housing Tax Credits in the country, PNC is committed to the development and rehabilitation of affordable housing, and our investment in Esau Jenkins Village demonstrates how we are bringing these capabilities to bear in the Lowcountry,” said Jim Hansen, PNC regional president for Eastern Carolinas and Southeast territory executive. “All of us at PNC are confident that Esau Jenkins Village will create positive and lasting impact, and it gives us great pride to be part of this meaningful development.”
Esau Jenkins Village represents the model for successful public-private partnerships. Through a mixed finance combination of more than 10 sources of project financing amounting to $25.9 Million, and four levels of government assistance, this development includes participation from the City of Charleston, Charleston County, the State of South Carolina and the United States Department of Housing and Community Development. Financial contributors PNC Bank, Citi Community Capital, SC Community Loan Fund, and private equity also played a key role in bringing this project to fruition. The Housing Authority of the City of Charleston contributed 72 project-based vouchers and issued $12MM of critical tax-exempt bond financing to make this deal feasible.
“There is not a lot of affordable housing on Johns Island, and the new Esau Jenkins Village project will provide 72 units of affordable senior housing”, said Herb Partlow, Chairman of the board for the City of Charleston Housing Authority. “This project really shows what can be done in the Charleston area when we come together to address affordable housing issues.”
Project completion and lease up are projected for Spring 2025.
