COLUMBIA, S.C. (WIS) - The Columbia Housing Board of Commissioners has voted to sell Celia Saxon shopping center to the Clearinghouse Community Development Financial Institution.
The board approved a $2.5 million purchase agreement.
“We are ecstatic to engage Clearinghouse CDFI in our efforts to create a sustainable plan for the Celia Saxon Shopping Center and one that the community will be proud of,” a representative said. “CCDFI has a deep understanding of the socio-economic issues faced by low-income communities and other targeted populations, including African American, Hispanic/Latinx, and Native American. It has funded $1.5 billion in total loans for over 1,820 community projects over the past 20 years. These projects have created or retained more than 16,500 jobs and benefit over 1.5 million individuals. Working hand-in-hand, the impact of what they will create in our community will be transformative.”
Columbia Housing opened the Celia Saxon shopping center in 2008 to serve the needs of the residents in the area. In 2019, city leaders decided to put the center up for sale.
CCDFI was established in 1996 to serve low-income and disadvantaged communities in Southern California and has expanded its services to address unmet credit needs throughout the United States.
CCDFI has an existing relationship with the Women’s Business Center at Benedict College. The organization is committed to providing economic opportunities, as well as, improve the quality of life for lower-income individuals and communities through innovative and affordable financing that is unavailable in the conventional market.
To date, CCDFI has not released much information about the future development of the site.