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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Brooklyn Centre, a neighborhood in Cleveland, Ohio, has a history of affordable housing development through the Low-Income Housing Tax Credit (LIHTC) program. The neighborhood currently has 138 LIHTC-funded affordable housing units, all designated as low-income units. Based on the estimated housing inventory of 2,993 units, LIHTC-funded affordable housing comprises approximately 4.61% of the neighborhood's housing stock.
The LIHTC program has invested $1,266,570 in tax credits for affordable housing projects in Brooklyn Centre. This equates to an average federal funding of $9,178 per unit. The neighborhood has experienced consistent development of affordable housing over the years, with the first LIHTC project, West One, completed in 1994, and the most recent, Emerald Alliance Xi, finished in 2020. This 26-year span indicates a long-term commitment to affordable housing in the area.
The 2010s saw the most significant development in affordable housing, with two projects completed during this decade: Denison Elderly in 2010 and Emerald Alliance Xi in 2020. These projects substantially increased the affordable housing stock in the neighborhood.
The LIHTC-funded housing in Brooklyn Centre primarily consists of one-bedroom and two-bedroom units. There are 83 one-bedroom units and 49 two-bedroom units, indicating a focus on housing for smaller households and potentially elderly residents.
Over the past decade, Brooklyn Centre has experienced demographic shifts. The population decreased from 8,786 in 2019 to 7,811 in 2022, a decline of about 11%. Despite this population decrease, the median income rose from $30,047 in 2019 to $27,027 in 2022, showing a slight improvement in economic conditions.
The racial composition of the neighborhood has remained relatively stable, with minor changes. The Hispanic population increased from 35% in 2019 to 36% in 2022, while the White population decreased slightly from 40% to 39% during the same period. The Black population remained relatively stable at around 21%.
The completion of Emerald Alliance Xi in 2020, adding 71 new affordable units, aligns with the period of population decrease and income increase. This suggests that the project may have been a response to changing housing needs in the neighborhood, potentially addressing affordability concerns for the remaining population.
Brooklyn Centre has maintained a consistent approach to affordable housing development through the LIHTC program over nearly three decades. The neighborhood's 138 LIHTC-funded units, while representing a small portion of the estimated housing stock, provide crucial affordable options for low-income residents. The focus on one-bedroom and two-bedroom units suggests an emphasis on housing for smaller households and potentially elderly residents. The recent demographic trends, including a population decrease and slight income increase, coupled with the completion of a large LIHTC project in 2020, indicate ongoing efforts to address evolving housing needs in the neighborhood.