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The development plan for Morrison Station has been intentionally assembled in response to the generational opportunity to transform this site. Recognizing the challenges in developing affordable housing in Charleston, the Development Team looks to maximize the development potential and amount of affordability possible within Morrison Station without utilizing LIHTC due to the current constraints with this financing program within South Carolina Housing.
Morrison Station will be a diverse and inclusive mixed-use neighborhood that strengthens the identity of the Eastside Community. There are very few, if any, locations in Charleston to provide a large amount of dense, human-scaled and diverse housing solutions with this level of access to public transit and proximity to jobs. This site is truly the gateway to the Eastside neighborhood, and for many, it will be the gateway to Charleston.
Of its planned 1,116 new housing units, 32% will be affordable (at or below 80% AMI) and 18% will be attainable (between 80% and 120% AMI). These 50% affordable and attainable housing units will be delivered throughout all phases and buildings. The affordable and attainable units will be built to the exact same standard and specification as Morrison Station’s market-rate units.