Duplex construction begins

Residents of Hollywood will soon have a chance to realize dreams of owning a home that may once have been out of reach.

Thanks to a collaboration between the town of Hollywood and the Charleston Bank Consortium, the town will break ground today on an affordable housing complex on Baptist Hill Road, behind Baptist Hill High School.

Hollywood residents have long needed affordable housing, according to Mayor Jacquelyn Heyward. The number of applications already distributed to potential buyers demonstrates the community's strong interest in the development, she said.

The Charleston Banking Consortium is a nonprofit that works to develop affordable housing in the Lowcountry and assists low-income families in purchasing homes. Executive Director Nancy Fabian said the new development, to be named Holly Grove, will help Hollywood residents who currently live in dilapidated housing and mobile homes. The location also would benefit workers commuting to Kiawah and Seabrook islands, she said.

The 41 duplexes built on the 6-acre site will be designated for households making up to 80 percent of the county median income. A family of four with a yearly income of $48,250 or less would qualify for ownership. Homes will be between 900 and 1,000 square feet and have two or three bedrooms.

Willie Brooks, an administrative assistant at Carolina Autism and a lifelong Hollywood resident, applauds the new development. "It's a smart method of growing the town while accommodating the people (who need affordable housing)," he said. Brooks added that he knows plenty of people, including relatives, who may take advantage of the opportunity.

A crucial element of the Holly Grove project is the homeowner education effort that will accompany it. Potential buyers will receive budget and credit counseling, while the Trident Urban League will provide home-ownership classes. The Consortium will guide buyers throughout the process, from pre-qualifying to closing.

To keep the cost of homes down, the Consortium will work to secure low-interest loans and subsidies to cover closing costs and reduce the size of mortgages. Down payments will be as little as $500. These measures will be possible because of grants from the Lowcountry Housing Trust, the state's HOME Investment Partnerships Program and Charleston County, Fabian said.

The Charleston Banking Consortium also will work with The Sustainability Institute, a South Carolina organization, to bring homes in line with energy efficiency standards. Fabian said it will be the first "green" development of its kind in Hollywood.