Project Backer: Historic Charleston Foundation
Funded by a grant from the 1772 Foundation, HCF hired Alexandria-VA based urban planning consultants, czb, to study the dynamic market effects surrounding the North Central neighborhood (outlined below.)
The development pressures in this area are dramatically increasing. So, too, is the pressure to preserve the historic fabric and character of North Central and other neighborhoods facing escalating real estate values as the demand for housing on the peninsula increases.
Unchecked, gentrification will undoubtedly occur.
Stabilizing a community facing development pressure is a monumental task. Frankly, HCF does not have the capacity nor the resources to address the issues alone. What HCF does have, however, is a proven history of convening multiple parties to solve huge community issues and of engaging multiple perspectives.
“We look forward to working with the North Central community, with other non-profit organizations, the City of Charleston and other engaged stake-holders to protect and stabilize this neighborhood,” said Winslow Hastie, HCF’s Chief Preservation Officer. “We know that we must act now, before market forces make it cost-prohibitive to do so.”
The community of Charleston as a whole benefits from the availability of affordable housing; allowing for more diversity within the community. Low-income and first-time home owners benefit from not being priced out of the Charleston market. This plan also allows current home owners in the North Central area a feasible plan for home upgrades and renovations.
HURDLES & CHALLENGES
The challenges involved in the implementation of this project are innumerable. Some of the greatest hurdles being time and education. Life-time residents and starter families of the North Central area are already being priced out of the housing market.
SC Community Loan Fund
City of Charleston
Read the full CZB report.
Charleston’s North Central Neighborhood – facebook