Charleston Workforce Housing Fund

Anyone may apply to live in a Charleston Workforce Housing Fund property as long as they meet the fund’s eligibility guidelines. All qualified applicants will be considered as units become available.

Homes are reserved for households earning between 30% and 100% of Area Median Income (AMI), allowing the fund to support a broad range of working individuals and families across the Charleston tri-county region. If you work for one of the investing companies, your HR department may be able to assist with documentation and income verification required for eligibility.

By preserving existing apartments at the more affordable end of the rental market, the Charleston Workforce Housing Fund offers a more efficient, cost-effective approach than traditional new construction, helping the workforce continue to live, work, and thrive in the community they call home.

To apply to lease at the fund’s first acquisition at West Wind Apartments, click the link below.

No. Residents with active leases will not be displaced.

If a resident is currently living in housing that is designated as the fund’s property, they can choose to remain in their home through the full term of their current lease. When it’s time to renew, they will have the option to remain in their unit and renew their lease if they choose. If their household income falls within the fund’s eligibility guidelines, they can also become income-qualified at renewal, which may create an opportunity for a decrease in monthly rent payments.

At its core, the Charleston Workforce Housing Fund is designed to improve housing affordability for the working individuals and families who power the regional economy.

No. There is no formal priority system in place.

All qualified applicants will have an equal opportunity to obtain a lease, based on the fund’s standard eligibility criteria. Investor companies often help share information about apartment availability with their employees, but access to housing is not restricted or reserved.

In Charlotte, companies that contribute to the fund commonly assign internal HR professionals to promote apartment availability to their teams, and a similar approach will likely emerge in the Charleston region. That said, we encourage all employers, not just investors, to communicate about these apartments to help their employees access these affordable leases.

The Charleston Workforce Housing Fund differs from traditional affordable housing because it uses private capital to preserve and rehabilitate existing apartments — making it faster and more cost-effective than new construction, which often takes years and relies on heavy subsidies.

While the fund doesn’t directly create homeownership opportunities, it supports housing stability and more predictable rent payments, giving residents a better chance to build savings and credit over time. The fund is also built for scale: with research that has identified more than twice the number of potential properties needed to reach the fund’s goal of preserving 1,000 well-located units across the tri-county region within two-to-three years.

Ascent Housing manages the Charleston Workforce Housing Fund properties, including day-to-day operations, tenant relations, and ongoing maintenance — so residents looking for workforce housing in Charleston, SC and the Charleston region have an experienced team overseeing the communities. For specific management questions or support, please contact Ascent Housing directly.

Once the 20-year affordability term is complete, investor companies receive their initial capital back. Any profit above the targeted 8% return will be directed to a similarly situated workforce housing initiative, subject to approval by the Charleston Workforce Housing Fund Board of Advisors.