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Affordable Housing in Asylum Hill: LIHTC Funding and Demographic Stability
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Asylum Hill, a neighborhood in Hartford, Connecticut, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood contains 477 total affordable units, all of which are designated as low-income units. Based on the estimated housing inventory of 3,825 units, the LIHTC funded affordable housing comprises approximately 12.5% of the neighborhood's housing stock, approaching the target percentage for a well-balanced community.
The LIHTC program has invested $1,609,962 in tax credits for affordable housing projects in Asylum Hill. This translates to an average federal funding of $3,375 per unit. The neighborhood has a long history of affordable housing development, with the earliest LIHTC project, "270-278 Farmington Ave," completed in 1988. The most recent project, "Sigourney Mews Apartments," was completed in 2013, indicating a 25-year span of LIHTC-funded development in the area.
The 1980s and early 1990s saw significant affordable housing development in Asylum Hill, with projects like "Sigourney Mews" (1989) and "Historic Asylum Hill Apt" (1990) being completed. The early 2000s also saw continued development with "Huntington Place" (2001) and "Huntington Place II" (2002).
The LIHTC-funded housing in Asylum Hill offers a diverse range of unit types. Out of the 477 total units, there are 47 efficiencies, 82 one-bedroom units, 113 two-bedroom units, 33 three-bedroom units, and 18 four-bedroom units. This variety caters to different household sizes and needs within the low-income population. Notably, the "Sigourney Mews Apartments" project, completed in 2013, targets supportive housing. This type of housing typically provides additional services to residents, which may include case management, health care, or employment assistance, catering to individuals who need extra support to maintain stable housing.
Over the past decade, Asylum Hill's population has fluctuated, with a general downward trend from 11,583 in 2010 to 9,983 in 2022. Despite this population decrease, the median income has shown an overall increase from $30,819 in 2013 to $33,404 in 2022, albeit with some fluctuations. The racial composition of the neighborhood has remained relatively stable, with a slight increase in the Black population from 43% in 2019 to 48% in 2022, and a small decrease in the White population from 17% to 12% over the same period. The Hispanic population has held steady at around 30-31%. The most recent LIHTC project in Asylum Hill was completed in 2013. The relatively stable demographic trends and modest income growth since then might suggest that the existing affordable housing stock has been meeting the neighborhood's needs to some extent.
Asylum Hill demonstrates a substantial commitment to affordable housing through its LIHTC-funded projects. With 477 low-income units representing about 12.5% of the estimated housing stock, the neighborhood is close to meeting recommended affordable housing targets. The diverse unit mix caters to various household sizes, and the inclusion of supportive housing shows attention to specialized needs. While the population has decreased slightly over the past decade, median incomes have risen modestly, and racial composition has remained relatively stable. These trends, combined with the lack of new LIHTC projects since 2013, may indicate that the current affordable housing stock is adequately serving the community's needs, though ongoing assessment would be crucial to ensure this remains the case.
