Boeing grant will help provide affordable housing

Aeronautics giant Boeing has awarded a $250,000 grant to the Coastal Community Foundation for affordable housing and economic mobility projects.

The funding will be divided between the foundation’s Place-Based Impact Investing, Economic Mobility Grantmaking Fund, and homeowner-occupied repair projects. All three strategies will work together to build generational wealth and opportunity for underserved residents of North Charleston, according to a news release.

“We are thankful for Boeing’s dedication to supporting economic mobility in our region,” foundation President and CEO Darrin Goss said in the news release. “Investment and collaboration between community partners is how we can make impactful change. Making sure residents have safe and attainable housing is one step on the path to creating financial stability.”

A portion of the Boeing grant will support Place-Based Impact Investing to create new affordable housing stock. The Economic Mobility Grantmaking Fund provides technical assistance to these projects as well as those supporting entrepreneurship and small business development for underserved and rural communities, the release said. The grant will also be used to fund homeowner-occupied repair projects in several North Charleston neighborhoods. The repairs are meant to allow residents to stay in their existing homes to maintain family stability, neighborhood pride and build generational wealth. Plus, this mitigates the need for the additional affordable housing units required if residents move out of a home in disrepair.

“We are delighted to continue our long-standing partnership with Coastal Community Foundation, an organization that works to create thriving and equitable communities by identifying and addressing the residents’ unique needs,” Lindsay Leonard, senior director of Government Operations at Boeing South Carolina, said in the release. ‘When families have reliable access to necessities such as food security, quality education and a safe home, true transformation is possible,”.

Over the past seven years, Boeing has granted more than $1.9 million to the foundation to support economic mobility efforts in North Charleston neighborhoods. The collaboration began with a focus on STEM education and creating access to higher paying jobs. As the foundation and Boeing continued to assess community need, the initiative evolved to include an emphasis on affordable housing and critical home repair.

The Coastal Community Foundation of South Carolina is a 501(c)(3) nonprofit that works to create communities rich in equity, opportunity and well-being by uniting people and investing resources so that all community members have a pathway to achieve their goals. The largest community foundation in South Carolina, the organization’s service area includes Beaufort, Berkeley, Charleston, Colleton, Dorchester, Georgetown, Hampton, Horry and Jasper counties.