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Affordable Housing in Briarcreek-Woodland: A Decade of Demographic Shifts and Static LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Briarcreek-Woodland, a neighborhood in Charlotte, North Carolina, has a population of 5,183 as of 2022. The area contains one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, which provides 24 low-income units. This project represents approximately 1.2% of the neighborhood's estimated housing inventory of 1,986 units.
The LIHTC program has invested $127,856 in tax credits for affordable housing in Briarcreek-Woodland, averaging $5,327 per unit in federal funding. The sole LIHTC project, Trinity Community Apts, was completed in 2000 and has been present in the area for over two decades. This development consists of 24 units, all designated as low-income housing, with 18 two-bedroom units and 6 three-bedroom units, indicating a focus on accommodating small to medium-sized families.
Briarcreek-Woodland has experienced significant demographic changes over the past decade. The population has increased by approximately 29%, growing from 4,013 in 2013 to 5,183 in 2022. Median income has also risen substantially, from $32,332 in 2013 to $43,977 in 2022, representing a 36% increase.
Racial demographics in the neighborhood have shifted as well. The Black population decreased from 38% in 2013 to 35% in 2022, while the White population increased from 34% to 42% during the same period. The Hispanic population grew from 14% to 21%, indicating increasing diversity in the area.
Despite these demographic changes, no new LIHTC projects have been developed in Briarcreek-Woodland since 2000. This lack of new affordable housing development could be attributed to various factors, including land availability, local zoning policies, or changes in funding priorities.
Briarcreek-Woodland's affordable housing landscape is characterized by a single LIHTC project completed in 2000, providing 24 low-income units. This project has been a consistent source of affordable housing for over two decades but represents a small portion of the neighborhood's estimated housing inventory. The area has experienced significant population growth, income increases, and shifts in racial demographics over the past decade. These changes, coupled with the absence of new LIHTC developments, suggest a potential need for reassessment of affordable housing requirements in the neighborhood.
