Loading Content...
Affordable Housing Impact on Stapleton: LIHTC's Role in Neighborhood Transformation
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Stapleton, a neighborhood in Staten Island, New York, exhibits a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area contains 1,209 units in LIHTC-funded projects, with 297 units designated as low-income. Based on the 2022 population of 3,587 and an estimated 1,374 housing units, LIHTC-funded affordable housing comprises approximately 88% of the neighborhood's estimated housing inventory. This high percentage indicates LIHTC's crucial role in Stapleton's housing landscape.
The LIHTC program has invested substantially in Stapleton, with project tax credits totaling $3,645,295. This equates to an average federal funding of approximately $3,015 per unit across all LIHTC-funded projects in the neighborhood. The affordable housing development in Stapleton occurred within a concentrated period, with the earliest and latest projects completed in the 2010s. The first LIHTC projects, Ironstate Stapleton and Homeport/Navy Pier Aka 2263, were completed in 2016. The most recent project, Bay Street Senior Housing, was finished in 2017.
The LIHTC-funded projects in Stapleton offer a range of unit types. Of the total 1,209 units, there are 807 efficiencies, 284 one-bedroom units, and 118 two-bedroom units. This distribution indicates a focus on accommodating smaller households and individuals.
Stapleton has experienced notable demographic shifts over the past decade. The population has shown an overall increasing trend, growing from 2,565 in 2015 to 3,587 in 2022. This population growth aligns with the introduction of LIHTC projects in 2016 and 2017, suggesting a possible correlation between affordable housing development and population increase.
Median income in the neighborhood has fluctuated but generally increased, rising from $35,240 in 2015 to $41,955 in 2022. This upward trend in income occurred alongside the introduction of LIHTC housing, potentially indicating that affordable housing has not hindered overall economic growth in the area.
Racial demographics have also shifted during this period. The Black population percentage decreased from 30% in 2015 to 24% in 2022, while the White population increased from 21% to 34%. The Hispanic population decreased from 42% to 33%. These changes occurred concurrent with the introduction of LIHTC housing, suggesting that affordable housing development has coincided with demographic shifts in the neighborhood.
Stapleton's affordable housing landscape is characterized by a significant LIHTC presence, with projects covering a large portion of the estimated housing inventory. The neighborhood has seen a concentrated period of affordable housing development in the mid-2010s, coinciding with population growth and income increases. The LIHTC projects offer a mix of unit types, predominantly efficiencies and one-bedrooms, reflecting the diverse housing needs of the community. These developments have occurred alongside shifts in racial demographics, illustrating the dynamic nature of Stapleton's community composition in recent years.
