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Affordable Housing in Carondelet: LIHTC Investments and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Carondelet, a neighborhood in St. Louis, Missouri, contains 89 units of Low-Income Housing Tax Credit (LIHTC) funded affordable housing, with 47 designated as low-income units. This represents approximately 3.3% of the neighborhood's estimated 2,703 housing units, based on the 2022 population of 7,054.
The LIHTC projects in Carondelet have received $757,800 in project tax credits, averaging about $8,515 per unit. This investment demonstrates a commitment to affordable housing in the area. Affordable housing has been present in Carondelet for over two decades, with the earliest LIHTC projects completed in 1995 and the most recent in 2018.
The 1990s saw the most affordable housing activity, with three out of four projects completed during this decade. The housing inventory includes a diverse mix of unit types: 1 efficiency, 54 one-bedroom, 18 two-bedroom, and 7 three-bedroom units. Notably, Intrada St. Louis, completed in 2018, targets the handicapped population.
Carondelet has experienced demographic shifts over the past decade. The population peaked in 2017 at 9,034 but decreased to 7,054 in 2022. Despite this population decline, median income has risen from $33,944 in 2017 to $50,294 in 2022. The racial composition has also changed, with the proportion of Black residents increasing from 24% in 2013 to a peak of 44% in 2019, before decreasing to 33% in 2022. The White population decreased from 57% in 2013 to 41% in 2020, before rising to 47% in 2022. The Hispanic population has remained relatively stable around 6-7%, with a slight increase to 10% in 2022.
The completion of Intrada St. Louis in 2018 aligns with a period of population growth and increasing diversity in the neighborhood, suggesting a response to changing community needs. Carondelet's LIHTC funded affordable housing inventory represents a small but significant portion of its estimated housing stock. The neighborhood has seen consistent investment in affordable housing since the mid-1990s, with projects catering to various needs, including specialized housing for handicapped individuals.
The continued presence of LIHTC projects indicates an ongoing commitment to maintaining affordable housing options in Carondelet, despite demographic fluctuations and changes in racial composition over the past decade.
