• The need for affordable and workforce housing exceeds 7,300,000 in the U.S. Single family home pricing has eliminated many low to moderate income families from purchasing a home.
• Lack of single-family home opportunities has increased the demand on apartments with rental prices reaching record highs.
• The pandemic, rising interest rates, supply chain issues, and construction costs have contributed to slower production.
• Potential federal increases in available tax credits may be on the horizon, however, the state and local resources will be expected to solve the issue of housing.

The Beaufort-Jasper Housing Trust, Inc. is delighted to share our Inaugural Annual Report. We take great pride in the strides we’ve made and are excited about the promising future that lies ahead.

We are grateful for the ongoing support and remain committed to working alongside our partners to create and preserve affordable and workforce housing in Beaufort and Jasper Counties.

The eight organizations that were approved for funding have been busy providing their due diligence packages. Our office is currently scheduling site visits to meet key personnel and volunteers, see completed work and also meet some of the people impacted by each of these programs. We look forward to meeting with each of the organizations over the next month!

The 2024 South Carolina Housing Profile was released by the National Low Income Housing Coalition

• Events Attended This Month
• Lowcountry Affordable Housing Coalition Symposium Planning Meeting
• 2025 QAP Roundtable Discussion with SC Housing, Columbia SC
• PRICE public hearing with SC Housing
• Beaufort County Council – Community Services and Land Use Committee Meeting and Finance Committee Meeting
• Coastal Community Foundation Listening Session

The next phase in construction has begun on the site. The elevator shaft has been constructed and crews are working to start the foundation. Carrington Manor, a Low-Income Housing Tax Credit (LIHTC) project, is BJHT’s inaugural project in the area. This community is designed for seniors aged 55 and older with eligible incomes.

Developers for the project have advised BJHT that they will delay their application for federal and state tax credits until 2025. Competition for the limited amount of resources is fierce and BBR, LLC is hopeful their application will be a top contender for funds next year. Funding layers from many sectors continues to be crucial for the successful production of affordable housing.

BJHT will provide updates for the project once SC Housing opens LIHTC applications in 2025. Main Street Village at Hardeeville would be a new affordable housing community in the city of Hardeeville, SC. The first phase of the project will consist of 80 apartment homes (studio, 1, 2 and 3 bedrooms).