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Affordable Housing Dominates Westerly Hills: A Longitudinal Analysis of LIHTC Projects
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Westerly Hills, a neighborhood in Charlotte, North Carolina, exhibits a high concentration of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood contains 553 total units in LIHTC-funded projects, all of which are designated as low-income units. Based on the 2022 population of 1,982 and the estimated housing inventory of 759 units, LIHTC-funded affordable housing comprises approximately 72.9% of the neighborhood's estimated housing stock. This indicates a substantial presence of affordable housing options in Westerly Hills.
The LIHTC projects in Westerly Hills have received $1,051,488 in project tax credits, averaging approximately $1,901 per unit in federal funding. The neighborhood demonstrates a long-term commitment to affordable housing, with projects spanning from 1993 to 2021. The earliest project, Seversville Apartments, was completed in 1993, while the most recent addition, Evoke Living At Westerly Hills, was finished in 2021. This nearly three-decade span of development illustrates a consistent, though intermittent, focus on affordable housing in the area.
The affordable housing inventory in Westerly Hills offers a diverse range of unit types, including 44 one-bedroom units, 176 two-bedroom units, and 82 three-bedroom units. This variety caters to different household compositions within the low-income population. The 1990s saw the completion of two LIHTC projects, while the 2000s and 2020s each saw one project completed, indicating a steady, albeit sporadic, development pattern over the years.
Westerly Hills has experienced significant demographic changes over the past decade. The population increased from 1,424 in 2013 to 1,982 in 2022, a 39% growth. Median income rose substantially, from $30,517 in 2013 to $49,879 in 2022, representing a 63% increase. Racial demographics also shifted during this period. The Black population decreased from 69% in 2013 to 53% in 2022, while the Hispanic population grew from 1% to 15%. The White population remained relatively stable, changing from 26% to 24%.
The completion of Evoke Living At Westerly Hills in 2021 coincides with these demographic shifts, potentially addressing the growing population and changing community needs. The timing of this development suggests a response to the evolving demographics and increased demand for housing in the area.
Westerly Hills demonstrates a strong presence of LIHTC-funded affordable housing, with these units constituting a significant portion of the estimated housing stock. The neighborhood has maintained a consistent development of affordable housing over nearly three decades, with the most recent project completed in 2021. The diverse mix of unit sizes indicates an effort to accommodate various household types within the low-income population. Concurrent with these housing developments, the neighborhood has experienced substantial population growth, increased median income, and shifts in racial demographics, particularly with a growing Hispanic population. These changes may have influenced the continued development of affordable housing in the area to meet evolving community needs.
