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Affordable Housing Impact on Texas Street Neighborhood in Mobile, Alabama: A Three-Decade Analysis
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 Texas Street neighborhood in Mobile, Alabama, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area contains 376 total units in LIHTC-funded projects, with 304 of these designated as low-income units. Based on the 2022 population of 2,523 and using the national average household size, the estimated housing inventory for the neighborhood is approximately 967 units. The LIHTC-funded affordable housing covers about 38.9% of the estimated housing inventory, indicating a substantial contribution to the neighborhood's affordable housing needs.
The LIHTC program has invested $299,788 in project tax credits for affordable housing in this neighborhood. With 376 total units in LIHTC-funded projects, this equates to an average federal funding of approximately $797 per unit.
Affordable housing has been a part of this neighborhood for over three decades. The earliest LIHTC project, Bay Oaks Apartments, was completed in 1989, while the most recent, Washington Plaza, was finished in 2007. The 2000s saw the most activity in affordable housing development, with two projects completed during this decade: South Bay Apartments in 2000 and Washington Plaza in 2007.
The neighborhood's LIHTC-funded housing stock is diverse in unit types. It includes 144 one-bedroom units and 160 two-bedroom units. South Bay Apartments is the largest project, providing 224 units, all of which are designated as low-income. Washington Plaza, while smaller with 80 units, has a mixed-income approach with only 8 units designated as low-income.
Over the past decade, the Texas Street neighborhood has experienced some notable demographic shifts. The population has grown from 1,878 in 2015 to 2,523 in 2022, a 34.3% increase. Despite this growth, the median income has fluctuated, dropping to a low of $16,234 in 2018 before rising to $28,285 in 2022. This recent income increase might indicate a changing economic landscape in the neighborhood.
The racial composition of the neighborhood has remained relatively stable, with a predominantly Black population (93% in 2022). There has been a slight increase in diversity, with the White population growing from 4% in 2015 to 6% in 2022, and a small but consistent Hispanic presence of about 1% since 2015.
It is worth noting that no new LIHTC projects have been completed in the neighborhood since 2007. This could be due to various factors, including changes in funding priorities, shifts in local housing policy, or potentially a perception that the current affordable housing stock is meeting the neighborhood's needs.
The Texas Street neighborhood in Mobile, Alabama, has a significant LIHTC-funded affordable housing presence, covering nearly 39% of the estimated housing inventory. The neighborhood has seen three LIHTC projects completed between 1989 and 2007, providing a mix of unit types with a focus on one and two-bedroom apartments. While the population has grown over the past decade and median incomes have recently increased, the racial composition has remained largely stable. The lack of new LIHTC projects since 2007 suggests a potential shift in affordable housing development strategies for this area, though the existing projects continue to play a crucial role in providing affordable housing options for the community.
