The City of Myrtle Beach says there’s a need for more affordable housing for people who make “medium” incomes.
The city says its working class is getting forced out of the city because they can’t find reasonably priced places to live.
On Wednesday, Myrtle Beach leaders discussed how to bring more affordable housing to the city for people who make “medium” incomes. City leaders said it’s a problem that people can’t afford to live in the city they work in.
The city is looking at funding options for a land “trust” that could be used to incentivize private developers to build workforce housing.
“Maybe there would be a way to generate money, so that we could invest in buying that land, a land trust,” Mark Kruea, city spokesperson, said. “And again, it would be a partnership with the private sector to build housing that would appeal to that medium income folks, not half million dollar housing, not hundred thousand dollar housing.”
Some of the funding options for that land trust include grants, foreclosures, and establishing fees associated with new construction.
