WestEdge Property Acquisition and Affordable Housing
Charleston
Summary
A proposed deal would have the City buy down the MUSC Foundation's interest in remaining Horizon TIF properties using WestEdge Foundation cash, with a joint venture partner paying $15 million toward housing. Waring objected to guaranteeing the Foundation a 7% return, so the item was deferred.
At a glance
- Total mentions
- 2
- Last 30 days
- 0
Discussed at 1 meeting in the last 60 days; most recently Sep 21, 2026.
Impact analysis
No hit to the general fund or TIF — the buydown would use cash already held by the WestEdge Foundation.
MUSC employees seeking affordable or workforce housing near the peninsula.
Mentions & discussions (2)
City Council - Sep 21, 2026
A proposed deal would have the City buy down the MUSC Foundation's interest in remaining Horizon TIF properties using WestEdge Foundation cash, with a joint venture partner paying $15 million toward housing. Waring objected to guaranteeing the Foundation a 7% return, so the item was deferred.
Community Development - Feb 19, 2026
The city is working to acquire the MUSC Foundation's interest in WestEdge land on Lockwood Drive to facilitate a massive affordable and workforce housing initiative known as Project 3500. Council members debated the financial strategy, debt obligations, and partnership structures.
We'll email you when it's on an upcoming agenda and when it's voted on, at most once a day.
The weekly brief for Charleston
What the council decided, in plain English — one email a week.
Free. Unsubscribe with one click any time. We never sell your email.