Charleston Mayor Proposes Private-Sector Partnership for Affordable Housing

Cogswell seeks third-party developer to buy county land and join city's affordable housing initiative

Published on Feb. 5, 2026

Got story updates? Submit your updates here. ›

Charleston Mayor William Cogswell presented a new plan to Charleston County Council's Finance Committee, proposing to involve the private sector in designing three housing initiatives, including the purchase of a 993 and 995 Morrison Drive property appraised at over $30 million. Cogswell is seeking a third-party developer to buy the land from the county by the end of the year and join the city's joint venture to deliver 3,500 affordable housing units by 2032.

Why it matters

Charleston, like many cities, has struggled with a shortage of affordable housing options. Mayor Cogswell's plan aims to leverage private-sector investment and expertise to accelerate the development of affordable units, addressing a critical need for the community.

The details

Instead of the city purchasing the Morrison Drive property directly from the county, Cogswell is proposing a private-sector joint venture. The county would sell the land to a third-party developer, who would then contribute the property and the purchase funds as their capital investment into the city's affordable housing initiative. This approach is intended to expedite the process of building affordable units while ensuring the current zoning remains unchanged.

  • Cogswell presented the plan to the Charleston County Council's Finance Committee on Thursday evening.
  • The city and county had been negotiating the potential land sale, but the city decided not to proceed with the purchase.
  • Cogswell is seeking to have a third-party developer buy the county's land by the end of 2026.

The players

William Cogswell

The mayor of Charleston, South Carolina, who is proposing a private-sector partnership to accelerate the development of affordable housing in the city.

Charleston County Council

The local government body that oversees Charleston County, which currently owns the 993 and 995 Morrison Drive property that is part of Cogswell's affordable housing plan.

Joe Boykin

The chairman of the Charleston County Council's Finance Committee, who called Cogswell's plan a "fabulous" one that "checks all the boxes."

Got photos? Submit your photos here. ›

What they’re saying

“The county would then be out and that developer would come into our joint venture and they would bring that property in and the cash they extended to pay for it as their capital contribution into our deal. This is the kind of volume we have to have in terms of delivering affordable housing to our community in order to really make a difference.”

— William Cogswell, Mayor of Charleston (abcnews4.com)

“Fabulous plan... checks all the boxes.”

— Joe Boykin, Chairman, Charleston County Council Finance Committee (abcnews4.com)

What’s next

A memorandum of understanding will soon be sent to the Charleston County Council for consideration of the proposed private-sector partnership.

The takeaway

Mayor Cogswell's plan to involve private developers in Charleston's affordable housing initiative represents a creative approach to addressing the city's housing shortage. By leveraging private investment and expertise, the city aims to accelerate the delivery of much-needed affordable units, demonstrating how public-private collaboration can drive progress on complex community challenges.