COLUMBIA, S.C. — The Columbia Housing Board of Commissioners has voted to enter a contract with Clearinghouse Community Development Financing Institution (CCDFI) to buy the Celia Saxon Shopping Center on Harden Street in Columbia, SC. The Board approved a $2.5 million purchase agreement for the sale.
“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,” said Columbia Housing director Ivory Mathews. “Working hand-in-hand, the impact of what they will create in our community will be transformative.”
Columbia Housing opened the shopping center in 2008 to serve the needs of the residents in the area; but the center never quite found its footing—and failed to turn a profit. In 2019 Columbia Housing decided to put the center up for sale.
Established in 1996 to serve low-income and disadvantaged communities in Southern California, Columbia Housing says CCDFI has expanded its service area to address unmet credit needs throughout the United States. CCDFI says it provides economic opportunities and improves the quality of life for lower-income individuals and communities through innovative and affordable financing that is unavailable in the conventional market.
CCDFI has not released much information about its future development of the site—only that it will likely be retail.