Charleston-based affordable housing nonprofit going statewide in South Carolina

  • Posted: Monday, December 16, 2013 8:00 a.m., Updated: Monday, December 16, 2013 1:56 p.m.

Lowcountry Housing Trust will broaden its horizons next year.

The local nonprofit is changing its name to South Carolina Community Loan Fund, representing a statewide initiative to grow affordable housing, food and other opportunities, officials said.

"We have a broader reach with all our programs and we wanted a better name to reflect our new vision," said Karen Hauck, a spokeswoman for the trust.

The nonprofit was founded in 2003 as the Charleston Housing Trust to be a source of financing for affordable housing construction in the city. The group later changed its name to the Lowcountry Housing Trust as it expanded into Charleston, Berkeley and Dorchester counties.

Since 2004, it has provided $18.7 million in financing to nonprofits, for-profit developers and government entities that, in turn, have helped build housing projects totaling more than $154 million, the group reported in early November.

The trust's resources have been increasingly extended to areas in the Upstate and along the state's coastline, Hauck said. That ignited some statewide plans for the group that will remain based in the Lowcountry, she added. Plans include having field offices in Columbia and Greenville within two years with local staff to "identify those eligible projects," Hauck said.

The growth of the trust comes amid its other local projects, including devising a master plan to address the need for more affordable homes in its back yard.

Sub-70


The Charleston Trident Association of Realtors monthly home sales report days ago continued this year's trend of growing sales and an uptick in the average median sales price. One detail in the report that stood out goes for those looking to buy and sell homes.

The average number of days between the time a home is listed and sold has been constantly dropping. The figure has now slipped below 70, says the association's data.

To be exact, it was 68 days to sell a home in the tri-county region in November. That's 29 fewer days compared to November a year ago. That's also below the 79-day average for homes sold between December 2012 and last month

Real estate experts have said buyers are moving faster in part due to lowered mortgage interest rates and worries that home prices will rise more.



Reach Tyrone Richardson at 937-5550.

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