Community Foundation News
Community Foundation’s Affordable Workforce Housing Fund Awards Matching Grant to Address Workforce Housing ShortageAugust 10, 2023
Earlier this year, Community Foundation of the Lowcountry established the Affordable Workforce Housing Fund in order to support local nonprofits and organizations that are addressing the affordable housing shortage.
We are excited to announce that Community Foundation of the Lowcountry’s initial investment will support the work of the Coastal Community Development Corporation (CCDC). CCDC is a 501(c)(3) designated nonprofit that was founded on the belief that the Beaufort County affordable workforce housing shortage “is an imminent threat to the quality of life in Beaufort County.” The Community Foundation has approved a matching grant commitment of $100,000 to CCDC that will assist in its efforts to preserve and grow local workforce housing by purchasing existing homes in the region and renting them to local residents with household incomes between 50-150% of area median income. Deed restrictions on the purchased homes protect the properties as affordable for 99 years.
“Coastal Community Development Corporation appreciates the Community Foundation’s generous support of our efforts to impact the supply and sustainability of affordable housing for those who are working in the region,” said Alan Wolf, Board Chairman of CCDC. “This matching grant will help CCDC to attract additional resources required to meet our goals of securing much needed workforce housing.”
The Community Foundation’s Affordable Workforce Housing Fund is also open to individuals and businesses who wish to participate in addressing the housing challenges in the region.
“We have talked with many individuals who are keenly aware of the affordable housing challenge and are interested in being part of the solution,” said Scott Wierman, President and CEO of Community Foundation of the Lowcountry. “The Community Foundation’s Affordable Workforce Housing Fund is a viable option for those interested in supporting regional efforts to increase and protect affordable housing. We have seen our community come together to address other challenges like COVID-19 and are confident the community will also rally around the housing issue.”
The issue of affordable workforce housing has reached all corners of the region.
“We are encouraged by the high level of recent activity of several nonprofit and governmental agencies who are actively working to address this issue,” said Debbie Cahoon, Community Foundation Vice President for Community Investment. “In addition to funding organizations, the Community Foundation has committed to being a primary convener of the nonprofits, organizations, and donors interested in investing in viable solutions to affordable workforce housing.”
To make a tax-deductible gift to the Community Foundation’s Affordable Workforce Housing Fund, please visit https://lowcountry.fcsuite.com/erp/donate/create/fund?funit_id=2320