Loading Content...
Affordable Housing in Baltimore's Coldspring: LIHTC's Significant Role in a Changing Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Coldspring, a neighborhood in Baltimore, Maryland, exhibits a notable affordable housing landscape. The area contains 250 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units, all designated as low-income units. Based on the 2022 population of 1,153 and an estimated 442 housing units, LIHTC funded affordable housing comprises approximately 56.6% of the neighborhood's estimated housing inventory. This substantial proportion indicates that LIHTC projects play a significant role in providing affordable housing options in Coldspring.
The LIHTC funded affordable housing in Coldspring has been present for over two decades. The first project, Park View At Coldspring, was completed in 2000, offering 99 units. The most recent project, Ruscombe Gardens, was completed in 2008, adding 151 units to the affordable housing stock. This indicates that the 2000s were a crucial decade for affordable housing development in the neighborhood.
The two LIHTC projects in Coldspring have different unit compositions. Park View At Coldspring provides a mix of one-bedroom (91 units) and two-bedroom (8 units) apartments. Information on the unit breakdown for Ruscombe Gardens is not available. Neither project has a specified target population, suggesting they may serve a general low-income demographic.
Over the past decade, Coldspring's population has fluctuated, with a notable increase from 930 in 2014 to 1,153 in 2022. The median income has also shown an upward trend, rising from $40,782 in 2014 to $58,080 in 2022. This increase in median income might suggest an improving economic situation for some residents, but it is important to note that the need for affordable housing often persists despite overall income growth.
The neighborhood has experienced shifts in racial demographics. The Black population has decreased from 81% in 2014 to 65% in 2022, while the Asian population has increased from 4% to 8% during the same period. The White population has remained relatively stable, ranging from 13% to 17% over the past decade. The Hispanic population has seen a notable increase from 0% in 2014 to 7% in 2022.
Coldspring's affordable housing landscape is characterized by two LIHTC projects providing 250 low-income units, which cover a significant portion of the neighborhood's estimated housing inventory. These projects, developed in the 2000s, offer a mix of one-bedroom and two-bedroom units. While no new LIHTC projects have been built in the last decade, the neighborhood has experienced population growth, increased median income, and shifts in racial demographics. These factors may influence future affordable housing needs and development in the area.
