Developer seeks $396K incentive for 55-unit affordable housing in downtown Charleston

Lowline Housing LP has requested $396,000 in financial assistance from Charleston County to support a five-story affordable housing development on the Lowline in downtown Charleston, Live 5 WCSC reported. The developer said the full property tax bill makes the project too costly without aid.

The proposed building would feature 55 affordable rental units in a mixed-income development located near King Street, adjacent to the Lowline path and close to the future Lowcountry Rapid Transit line, according to Live 5 WCSC. Construction on phase one of the project has already begun.

The developer is seeking the incentive under Charleston County’s Uniform Tax Exemption Policy for attainable rental housing. The requested amount represents about 19% of the project’s property taxes over 15 years and would help cover site development costs. In return, the developer would pay the county approximately $1.7 million over 15 years.

Anna Eskridge, Charleston County’s community investment senior director, highlighted the project’s benefits, noting it adds convenience and affordability by placing housing near job centers. She emphasized the county’s need for affordable homes throughout all areas, not just one part of the county.

The Charleston County Council’s finance committee is scheduled to hold the first reading of the special source credit agreement on Thursday, with three readings required before expected approval in early 2027, Live 5 WCSC reported.