Mount Pleasant to consider new housing ordinance

The Mount Pleasant Planning Commission will consider a proposal Wednesday aimed at giving developers incentive to build affordable work force housing.

The proposed planned development, work force housing zoning district would allow developers to deviate from traditional land restrictions, allowing higher density on less acreage and leeway on other tenets such as setback requirements, said Kelly Cousino, a town planner.

In exchange, a developer would have to sell or rent 30% of the units as work force housing units. The U.S. Department of Housing and Urban Development deems work force housing units as those priced appropriately for a family of four earning up to 120% of the area median income, which in Mount Pleasant would equal $70,050. For rental units, it is 80% of the median area income, or $46,700.

The median area income for the Charleston-North Charleston statistical area, taking in Mount Pleasant, is $58,400. HUD guidelines establish that a family or individual should not spend more than one-third of household income on housing.

At the end of 2007, Mount Pleasant’s median home price was well over $365,000, which shuts out many in its own work force, particularly those in the hospitality and retail sectors, according to the Lowcountry Housing Trust, which supports the new ordinance.

“Land costs in Mount Pleasant are really high. It really puts it out of range for essential workers: teachers, firefighters and that sort of thing,” Cousino said. “Affordable housing is also really important for economic development. For companies moving to an area, having affordable housing helps them attract and retain workers.”

The planning commission meets at 5 p.m. Wednesday at Town Hall. The commission gives recommendations to the council but doesn’t make final decisions. The ordinance was drafted with recommendations from the town’s work force housing advisory committee, which has been working on the issue for more than nine months, Cousino said.
 

as provided by Charleston Regional Business Journal By Molly Parker , Daily Journal Staff