Commentary: An uncommon approach to prevent gentrification and displacement in Charleston
F.A. Johnson, CEO of the Charleston Redevelopment Corporation
April Wood, manager of easements and technical outreach for the Historic Charleston Foundation, performs an annual easement inspection at a home on Legare Street in 2018. Photo by Grace Beahm Alford/The Post and Courier staff
Charleston’s recent economic growth and strong housing market are certainly to be celebrated, but not all have shared in the prosperity.
Our great city faces the continued displacement of some of its long-term homeowners. We must grapple with the social equity implications of Charleston’s economic success. Concerns over displacement and gentrification have intensified, and the character of historic neighborhoods, particularly downtown, is changing dramatically.
With preservation funds increasingly hard to come by, this displacement is amplified.
Preservation initiatives are not limited to South of Broad. Older homes across the city reflect the diverse breadth of Charleston’s history, but the cost of maintaining older homes — particularly for traditionally underserved communities — can limit homeowners’ ability to remain in their home.
Common Cause is a loan fund established by Historic Charleston Foundation and the Charleston Redevelopment Corporation in response to this growing problem. The Common Cause Fund was created to assist those in need with the resources to stay in their homes.
Homeowners who qualify can receive financial assistance to repair or maintain the exterior of their homes. Common Cause will provide funding, technical expertise and partnership engagement with the mission of preserving the communities that contribute to the cultural fabric of the greater Charleston area.
This project is funded by a grant from the 1772 Foundation with support from Historic Charleston Foundation, Charleston Development Corporation and other generous community partners. It is being carried out in partnership with the city of Charleston.
Common Cause loans are capped at $60,000 per project to try to ensure our limited money has the greatest impact in the community. Loan candidates must meet certain criteria to qualify for the loan. The borrower must: have clear title on the historic house (defined as being 50 years old or older); have an income of no more than 120% of our area median income range (for example, the maximum income for a household of one would be $69,000); and plan to remain in the house for at least seven years after the work is done.
The funding is provided as below-market-rate, long-term loans. In some cases, these loans may be forgivable. The foundation and corporation will be involved with project evaluation and review of the repair work. Exterior repairs, such as fixing windows, addressing wood rot and painting, qualify for the program. In evaluating appropriate repair methods, our focus will be on maintaining the character-defining features of the house.
The implementation of the Common Cause loan program will provide much-needed resources to qualifying homeowners who need to make repairs. Most importantly, this new effort should increase the likelihood of residents being able to stay in their homes without being forced out by displacement pressures or the threat of deteriorating living conditions. As we work to directly address these challenges, we must also work to advance creative options for housing in our city.
The Common Cause loan program is a unique combination of preservation and affordable housing initiatives. We must collaborate to keep Charleston a beautiful, livable and affordable city for all of our citizens. We invite the community to join us in this cause.
April Wood is Historic Charleston Foundation’s easement and technical outreach manager. F.A. Johnson was named CEO of the Charleston Redevelopment Corporation in 2021.
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