Ascent Housing has partnered with the Charleston Regional Development Alliance to create Charleston Workforce Housing Fund, a new social impact fund focused on preserving naturally-occurring affordable housing (NOAH) in the Charleston region. Ascent Housing will serve as the Fund Manager and Operating Partner for Charleston Workforce Housing Fund, which has a goal of preserving nearly 1,000 quality, well-located housing units across the Charleston MSA over the next 2-3 years. The Fund is set up to follow the innovative strategy and success of Housing Impact Fund in Charlotte.

In its first phase, the fund will acquire 4–6 properties across the region, modernizing approximately 1,000 one- to three-bedroom apartment homes.

These homes will serve households earning between 30% and 100% of Area Median Income (AMI), supporting a wide range of working families and individuals across the tri-county region in Charleston. By preserving existing housing at the lower tier of the rental market, the fund provides a more efficient and cost-effective solution than new construction, while ensuring the region’s workforce can continue to live, work, and thrive in the place they call home.