Charleston, S.C. – Chairman Tim Scott (R-S.C.) and Secretary of Housing and Urban Development Scott Turner visited One80 Place, an affordable housing project under construction in Charleston, South Carolina. This development includes a six-story, $44 million housing and shelter project within an Opportunity Zone. It will feature 70 affordable housing units and a 65-bed family shelter, marking a first for the area with hopes of future replication across the nation.
Chairman Scott commented, “To have the Secretary of HUD to stop by Charleston, South Carolina, invest his valuable time in seeing the progress that we are making as a community, it is a blessing…and it is also a blessing to have One80 Place working so hard on behalf of a critical issue. One of our top goals on the [Senate Banking] Committee is housing and affordability, and I’m thankful that we have a partner who’s on the job every single day, leading the way from Washington, and many people in the local community, on the job, every single day, helping us take care of our own communities.” He noted the importance of focusing on the regulatory environment, stating, “Certainly, we’re focusing on the regulatory environment. And frankly, the private sector as well…you look at our bill, the ROAD to Housing Act, it focuses on relieving some of the pressure in the system from a regulatory perspective. [I believe] that will allow for more homeownership, faster.”
Scott’s Opportunity Zones initiative has poured $84.7 billion into underserved communities, fostering economic opportunities. Secretary Turner has played a significant role in this success as the leader of the White House Opportunity and Revitalization Council during President Trump’s first term. Scott looks forward to collaborating with President Trump and Republican colleagues to expand Opportunity Zones.
Opportunity Zones help address the nation’s housing crisis by boosting supply. The Economic Innovation Group highlights significant increases in development activity within designated low-income communities, noting a 20 percent spike in investment likelihood post-OZs. These areas now account for 20 percent of all new market-rate multifamily apartment units being developed nationwide, with 172,000 new apartment units created across 972 developments in 2,014 cities.
Secretary Turner had committed, during his confirmation hearing, to visit areas like Charleston to understand housing challenges firsthand. He has previously cited Chairman Scott’s ROAD to Housing Act as a priority to advance affordable housing initiatives.
