MOUNT PLEASANT, S.C. The Mount Pleasant Town Council has enacted a 180-day building moratorium targeting apartment communities in a narrow 4-3 vote. Officials there indicate that the measure was needed to assess the impact of growth to the citys infrastructure.
According to the U.S. Census Bureau, the towns estimated population has grown from 47,609 in 2000 to 78,988 in 2015. The moratorium, passed April 12, suspends property owners rights to submit development applications or obtain development approvals for the next six months. Officials justified the stoppage to allow the city time to assess area impacts to schools and traffic and explore affordable housing options.
Like other high-growth areas across the U.S., Charleston area residents have seen the cost of housing rise while wages have remained stagnant. Housing and business advocates alike have warned that a moratorium, particularly on the most affordable housing option, will have a negative effect on the areas ability to produce much needed affordable housing.
Moratoriums distort the housing market by signaling to developers what housing product a municipality is willing to accept, not what the market needs, said Lisa Pelloni, President of the Charleston Apartment Association, a vocal opponent to the measure. "Mount Pleasant should look towards increased density and targeted growth while simultaneously building a long term growth plan with mass transit and affordable living in mind" she added.
While rare, moratoriums are part of a trend by municipalities to stop or slow down multifamily development. Recently, the Mississippi towns of Ridgeland and Pearl have attempted to limit multifamily developments by retroactively rezoning built units.