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Plans for a new housing complex began in May 1935 when the Public Works Administration decided to allocate $1.5 million to Charleston to clear slums and redevelop the land with new housing. [1] The affordable rent was to pay off the cost of the project over 40 years.
The new housing was expected to cost only $2.30 a month for rent per room. [1] Bids for the construction of the housing was due December 11, 1939, for the 128 single-story housing units. The new project was called the Wragg Borough Homes in honor of Samuel Wragg, the previous owner of most of the property. [2]
In 1968, ten buildings of housing were added to the west side of the existing project including 38 Hagood Ave. Mayor Lockwood announced that the City would stop developing housing projects after Gadsden Green because the area had reached its saturation point; more projects, he said, would injure the property owners of the city. [15]
The LIHTC provides funding for the development costs of low-income housing by allowing an investor (usually the partners of a partnership that owns the housing) to take a federal tax credit equal to a percentage (either 4% or 9%, for 10 years, depending on the credit type) of the cost incurred for development of the low-income units in a rental housing project.
Anson Borough Homes was a housing complex located in Charleston, South Carolina bounded by Washington, Concord, Calhoun, and Laurens Streets. The project was one of a series of federally funded housing projects built in the 1930s and early 1940s during the Segregation Era.
Rent was originally set between $95 and $182 per month. [2] The Ashley House Apartments (Condominiums) is actually thirteen stories in height. The first floor ("ground floor") has twelve stories above it. There is no "thirteenth floor", due to the prevalence of superstition being a hobby of many people.
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