Ten new West Ashley townhomes put homeownership within reach for first-time buyers
from Staff Reports
For Alex Mendez, buying a home meant confronting a gap familiar to many Charleston residents: the distance between what a paycheck covers and what a house costs.
A new townhome development in West Ashley helped close that gap.
Mendez is among the first-time buyers putting down roots at Juniper Street Townhomes, a 10-home development at 1555 Juniper St. in the Ardmore/Sherwood neighborhood. Backed by a $3.7 million city investment, the project offers a path to ownership for buyers who might otherwise struggle to find a foothold in Charleston’s housing market.
“For a long time, a home cost a couple of years’ salary. My parents were able to work hard and buy a house. Today it’s almost 5 or 6 times your salary,” Mendez said. “Juniper keeps these homes in the hands of the people who love them and work in this community, not investors. It gave me a real shot and I’m very blessed for this opportunity.”
New homeowners joined Mayor William Cogswell, Councilmember Keith Waring, and city housing staff for a Monday, Oct. 26 ribbon-cutting. Beyond marking the development’s completion, the gathering celebrated a milestone for buyers transitioning to homeownership.
The city made each townhome available through its First-Time Homebuyer Program. The financing combines a subsidy built into each property with down payment assistance through partner lenders, addressing both the home’s cost and the upfront expense of purchasing it.
According to the city, the subsidy is designed to preserve affordability for future buyers as well as the people receiving keys now. That long-term approach is a central part of the project: public investment intended to help successive households gain access to homeownership.
“For most families, a home is the biggest purchase they’ll ever make, and in Charleston it’s gotten harder and harder to make it,” Cogswell said. “These homeowners did the hard part. Our job was to close the gap between what a home costs and what a working family can pay, and to make sure it stays that way for the next family, too. That’s what Project 3500 is for.”
Project 3500 sets a goal of adding 3,500 affordable homes across Charleston by 2032 through partnerships between the city and public and private organizations. The effort includes building on new sites and redeveloping existing properties, with affordable homes intended to remain permanently affordable.
The city’s strategy calls for mixed-income neighborhoods that combine market-rate and workforce housing serving a range of incomes. It also outlines a “build first” approach to redevelopment: constructing new housing before replacing older units so existing residents are not displaced during construction. An online dashboard allows residents to follow progress toward the goal and explore proposed locations and designs.
While Project 3500 sets the broader housing target, developments such as Juniper Street also build on Charleston’s Homeownership Initiative, established in 2000 to help low- and moderate-income households purchase homes through partnerships with nonprofit and private organizations.
Under the initiative’s published guidelines, eligible households generally earn between 50 and 120 percent of the area median income, have not owned a home in three years, and must qualify for a first mortgage. The city uses 90-year restrictive covenants to preserve the affordability of homes participating in the initiative.
JJR Development, LLC and MGN, LLC designed and developed the Juniper Street townhomes. Pinnacle Financial Partners and South Atlantic Bank provided affordable mortgages to the buyers.
The ribbon-cutting also included an invocation by the Rev. Lawrence Bratton of Bible Way Church and a blessing of the homes by the Rev. Christian King.
For Mendez, the significance of the project comes down to the opportunity to own a home in the community where he works—and the chance for others to do the same.
For more information about the city’s homeownership programs, including eligibility and application details, visit charleston-sc.gov/242/Homeownership-Initiative or call the Department of Housing and Community Development at (843) 724-3766.
