October 26, 2018
Oakside Apartment Affordable Housing Property Fully Leased in 5 Days
Flatiron Partners and Classic Development along with the Mayor of Charleston, John Tecklenburg applauded the Grand Opening of Oakside Apartments, the newest affordable housing property in Johns Island, SC. Included in the gathering was a ceremony in which Mayor Tecklenburg, Renaye Long from SC Housing, and Geona Johnson from City of Charleston did the honors of cutting the ribbon in celebration.
“Both the Mayor and Renaye Long spoke of the need for more affordable housing in the Charleston area, as evidenced by the leasing up of Oakside Apartments in only 5 days.”, said Charlie Irick, a Principal at Flatiron Partners. During the festivity, Charlie Irick acknowledged the many partners involved in the project including Jay Bernstein of Classic Development, Raymond James, Sweetwater Construction, SC Housing and the City of Charleston.
Oakside Apartments built by Sweetwater Construction provides quality housing to 38 families. With its brick veneer and fiber cement siding, this up-to-date property meets Energy Star 3.0 standards. The two newly constructed three-story buildings feature 4 one-bedroom, 24 two-bedroom, and 10 three-bedroom units. Every apartment features many amenities including a porch, ceiling fans in the living and bedrooms, washer and dryer connections, dishwasher, microwave, range with hood, refrigerator with icemaker and 15 SEER HVAC unit for cooling and heating. Wiring for internet, cable and telephone is included in every unit. Residents have access to a fitness center, computer and laundry center as well as meeting space. Adjacent to the community room is the leasing office.
Raymond James provided the low-income housing tax credit equity for Oakside Apartments. In addition, the property received $250,000 HOME Funds provided by the City of Charleston.