The high cost of affordability

Charleston's rich architectural history is a priceless treasure that must be preserved. But such preservation considerations can also be high-priced obstacles to "affordable housing."

As reported in Tuesday's Post and Courier, such was the case of a vacant house at 61 Bogard Street. The projected costs of proper renovations on the historic structure forced the nonprofit Humanities Foundation to conclude that the house's rehabilitation tab, estimated at $417,000 by city officials, made transforming it into "affordable housing" economically impractical. So earlier this year, the foundation, which had been given the property by the city, gave it back. The city recently agreed to sell it for $125,000 to a private buyer who now faces a major "fixer-upper" challenge.

City Councilman James Lewis expressed frustration over the loss of what was supposed to become another affordable property in the Peecksen's Court initiative. He told our reporter: "I've been on their case to either renovate it or tear it down. My thing is, we've got some of the finest architects in the country here in Charleston, and with some of these, if it's too expensive to renovate, then we should tear down and build something else in its footprint."

There's indisputable logic to that approach, especially with a growing number of longtime peninsula residents being priced out of their neighborhoods. Yet there's also indisputable logic to sustaining Charleston's unique architectural heritage while expanding affordable-housing opportunities on the peninsula. At least the city has sold nine "affordable" houses from that Peecksen's Court initiative so far β€” at an average price of $160,000 β€” to middle-income, first-time homeowners.

The city also has learned a lesson in the hazards of acquiring historic properties that need renovation for this purpose. As Geona Johnson, director of Charleston's Department of Housing and Community Development, put it: "We're looking to determine the feasibility right up front."

The peninsula's architectural wealth is central to the city's tourist economy. It also makes Charleston a special place for local residents β€” even if they have to visit from the suburbs because they can't afford to live downtown.