MOUNT PLEASANT, S.C. (WCBD) – The Town of Mount Pleasant is expanding eligibility for attainable housing to help more local workers afford to live in the community where they work.
The Gregorie Ferry Townhomes development, featuring 36 units, was designed to provide Mount Pleasant’s workforce with a more accessible path to homeownership. The homes were initially reserved for households earning up to 80 percent of the area median income (AMI), which equates to about $94,000 for a family of four. Despite being priced below market rates, concerns emerged about whether those who qualified under the original guidelines could afford homes listed in the mid- to upper-$300,000s.
“We just want to make the pool a little bit bigger, to have more accessibility and attainability to something like this,” said Andrew Johnstone, vice president of the Gregorie Ferry Townhomes Homeowners Association (HOA)…