June 30, 2020
The CRC recently held a ribbon-cutting ceremony attended by Charleston Mayor John Tecklenburg, members of City Council, and CRC chair Eli Poliakoff, center front, right.
Like many communities across the country, the Charleston, South Carolina area lacks adequate affordable housing options. To help address this problem, members of the Charleston office have provided significant contributions, in both time and pro bono legal services, for the Charleston Redevelopment Corporation (CRC). The CRC is a nonprofit initiative 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.
Charleston partner Eli Poliakoff is a mayoral appointee and currently serves as chair of the CRC Board. Charleston partner Jay Claypoole has provided extensive real estate pro bono services for the CRC’s activities.
The CRC recently acquired the Sea Island Apartments, a 48-unit affordable rental complex in Charleston for families of low to moderate income levels. The complex will be maintained in the Land Trust program. The CRC’s acquisition of the complex ensures the units remain an affordable housing option for its 160 residents.
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