$26M affordable housing community coming to Johns Island

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An affordable housing community in Johns Island is closer to becoming a reality after its developer received financing for the project.

Esau Jenkins Village, a new 72-unit affordable senior housing community, led by Maryland based developer Nix Development Co. through a strategic partnership with Sea Island Comprehensive Health Care Corp. (SICHCC), and Ward Mungo Construction LLC closed on $26 million of project financing on Dec. 22, according to a news release.

Named in honor of the iconic civil rights patriarch of Charleston’s Johns Island, Esau Jenkins Village will feature two residential three-story buildings and one resident amenity building with an on-site management office, according to the release.

“Esau Jenkins Village is the culmination of our parents’ quest for clean, decent, and affordable housing on Johns Island.” said Major Abraham B. Jenkins and administrator of SICHCC from 1971-1992, in the release.

The community will have 61 one bedroom and 11 two-bedroom apartments, according to the release. Construction is expected to be completed in 16 months. All of the 72 units will be restricted to households earning up to 60% of AMI. The resident amenity building will provide residents with a large community room, a fitness center, a computer station, walking trail, and outdoor gathering space.

“Sea Island Comprehensive Health Care Corporation has been an anchor for the John’s Island community for over Pive decades,” said Ray Nix of Nix Development Co. in the release. “Our team is grateful for this partnership and look forward to delivering quality affordable housing for seniors and a modern living experience for one of Charleston’s most vulnerable populations.”

Project financing includes $10.01 million in permanent financing with a $6.8 million construction bridge loan from Citibank, $10.4 million total in State and Federal Tax Credit Equity from PNC Bank, $550,000 from the City of Charleston, a $725,000 seller note from Sea Island Comprehensive Health Care Corp., developer equity, and $905,000 of State Housing Trust funds from the State of South Carolina, according to the release.

Critical to the capital stack is $3.175 million in American Rescue Plan Act funding, which South Carolina Community Loan Fund manages on behalf of Charleston County, the release stated.

The development team will celebrate this milestone with a groundbreaking ceremony planned for February 2024.