With the success of Gregorie Ferry Towns in Mount Pleasant, Prosperity Builders is slated to bring a new project to the Charleston area
with a similar concept of tackling the workforce housing shortage that plagues the Low-country. As we all know finding affordable housing in the Charleston market anywhere near downtown, in downtown, or Mount Pleasant is all but impossible for most people, but 
following the overwhelming fanfare and success of Gregorie Ferry Towns, builder Prosperity Homes wants to continue riding the wave of this affordable housing concept with Bermuda Pointe Towns.
This new townhouse community in Charleston’s West Ashley area will focus on workforce housing, and the nonprofit Charleston Redevelopment Corp. will start construction soon on the 40-unit townhome development in West Ashley (next to the St Andrews Fire Department) with affordability tied to the owner’s income. Bermuda Pointe Towns, which is off Ashley River Rd near Church Creek, will include 30 workforce housing units that will be for sale between 80 percent and 120 percent of the area median income. Ten will be offered at the market rate, with expected pricing starting in the high $200,000s. Similar to the Gregorie Ferry Towns project in Mt Pleasant, there will be deed restrictions. Home buyers’ qualifications for this special opportunity will be determined based on income levels and available units. *All units are subject to a 90-year deed restriction on income and resale limits. So that means investors can not purchase these units, except for the 10 standard transaction units. If you want to purchase one of the deed-restricted units, you won’t be able to sell your unit unless future prospective buyers qualify per the deed restrictions.
- 10 units income restricted to 80% Avg. Median Income & below
- 10 units income restricted to between 80% & 100% AMI
- 10 units income restricted to between 100% & 120% AMI
- 10 units sold at market rate with no income restrictions.
ABOUT THE UNITS
Bermuda Pointe Towns come with a host of luxurious features and finishes you might not expect to be standard, including:
• 9-foot ceilings
• Granite countertops
• 36-inch cabinets
• Subway tile backsplash
• Luxury vinyl floor planking
