The Times & Democrat
NORTH CHARLESTON -- Four South Carolina based charitable organizations have announced their partnership in creating and operating a new concept for non-profit led economic development; this innovative concept will be called the Opportunity Center.
The four non-profit partner agencies have combined experience of 75 years of working in the community economic development field. The Center for Heirs’ Property Preservation, Increasing H.O.P.E., Homes of Hope and the S.C. Association for Community Economic Development will be using the Opportunity Center not only as their headquarters, but as a training center and a business incubator all under one roof.
A ground breaking to kick-off construction was held Jan. 25. The facility is located at 8570 Rivers Ave. in North Charleston.
Buoyed by a $2.7 million grant awarded from the Economic Development Administration (EDA) to Homes of Hope Inc. this past May, the former 31,250 square-foot furniture store in North Charleston is undergoing the transformation into the Opportunity Center. In addition to the $2.7 million EDA grant, the Coastal Community Foundation (CCF) has provided an $800,000 equity investment from CCF’s Place-Based Impact Investing fund. Other partners to date include Wells Fargo and Trust Bank, who each invested $100,000. The group is currently working on securing additional investments and donations of $1 million to fully complete the project.