December 2, 2019
CHARLESTON, S.C. — Charleston partner Eli Poliakoff has been elected chairman of the Charleston Redevelopment Corporation (CRC), a nonprofit initiative of the City of Charleston, the Housing Authority of the City of Charleston, and the Historic Charleston Foundation. The CRC focuses on the development and maintenance of affordable housing in the Charleston area and helps secure local, state, and national funding for long-term housing affordability. The CRC also administers the Palmetto Community Land Trust program, a novel approach to develop and enhance long-term affordability in ownership and rental housing in the Charleston area.
The CRC’s mission is to increase the supply of affordable rental and for-sale housing and maximize long term affordability through investments and a revolving loan fund program. CRC board members include representatives of the City of Charleston, the Historic Charleston Foundation, the City of Charleston Housing Authority, the Charleston Trident Urban League, and the Eastside Community Development Corporation, among other institutions and community organizations.
The CRC recently acquired the Sea Island Apartments complex in Charleston. A ribbon-cutting ceremony with Charleston Mayor John Tecklenburg will be held on Dec. 11. Sea Island Apartments is a 48-unit affordable rental complex for families in low to moderate income levels. The complex will be maintained in the CRC’s Palmetto Community Land Trust program. It is the first CRC acquisition. The CRC’s acquisition of the complex helps ensure the units remain an affordable housing option in the Charleston community.
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