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Affordable Housing Dynamics in Tall Timbers-Brechtel: LIHTC Impact and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Tall Timbers-Brechtel neighborhood in New Orleans, Louisiana, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This neighborhood contains 446 total units in LIHTC-funded projects, including 405 low-income units. These units represent approximately 4.96% of the estimated 8,992 housing units in the neighborhood.
The LIHTC program has invested $3,114,781 in tax credits for affordable housing projects in Tall Timbers-Brechtel. This investment equates to an average federal funding of $6,984 per unit across all LIHTC-funded projects. The affordable housing presence in the neighborhood spans over a decade, with the earliest recorded project, Skyview Terrace, completed in 2000, and the most recent, Garden Oaks Tower, in 2013.
The 2000s saw the most significant development of affordable housing in the neighborhood, with three projects completed during this decade. Notable projects include Forest Park Apartments and Renaissance Place, both completed in 2007. The LIHTC-funded housing inventory in Tall Timbers-Brechtel offers a diverse range of unit types, with the majority being one-bedroom units (211), followed by two-bedroom (26), three-bedroom (4), and efficiencies (1).
Several projects in the neighborhood have specific target populations. Skyview Terrace focused on rehabilitation, while Forest Park Apartments and Garden Oaks Tower targeted acquisition and rehabilitation. These projects likely aimed to preserve and improve existing affordable housing stock in the area.
Over the past decade, Tall Timbers-Brechtel has experienced notable demographic shifts. The population has grown from 21,553 in 2013 to 23,468 in 2022. Median income has also risen significantly, from $60,440 in 2013 to $70,660 in 2022. Racial demographics have shown changes, with the Black population increasing from 56% in 2013 to 59% in 2022. The Hispanic population has grown from 7% to 13% during the same period, while the White population has decreased from 28% to 21%.
The lack of new LIHTC projects since 2013 could be related to the rising median income in the area, potentially reducing the perceived need for additional affordable housing. However, the growing population and changing racial demographics might suggest a continued need for diverse housing options.
The Tall Timbers-Brechtel neighborhood has a foundation of LIHTC-funded affordable housing, with projects spanning from 2000 to 2013. While these units represent a small percentage of the estimated housing inventory, they provide important affordable options for residents. The neighborhood has experienced population growth, increasing median income, and shifting racial demographics over the past decade. These changes, coupled with the existing affordable housing stock, highlight the complex and evolving housing landscape in Tall Timbers-Brechtel.
