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Affordable Housing in Central City: LIHTC's Impact on Gresham Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Central City, a neighborhood in Gresham, Oregon, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area contains 260 units in LIHTC-funded projects, with 26 designated as low-income units. Based on the 2022 population of 3,346 and an estimated 1,282 housing units, LIHTC-funded affordable housing comprises approximately 20.3% of the neighborhood's housing inventory. This percentage aligns with the target for a well-balanced community.
The LIHTC program has invested substantially in Central City, with project tax credits totaling $671,385. This equates to an average federal funding of $2,582 per unit across all LIHTC-funded projects in the neighborhood. The affordable housing presence in Central City began in 1993 with the completion of Bristol Woods Phases I & II. The most recent project, Kelly Place Apartments, was completed in 1997, indicating a four-year period of LIHTC project development in the neighborhood.
The 1990s saw the most affordable housing activity in Central City, with both LIHTC projects being completed during this decade. Bristol Woods Phases I & II is the larger project, providing 240 units, while Kelly Place Apartments added 20 units to the affordable housing inventory. The housing mix in these LIHTC projects is diverse, catering to various household sizes. The inventory includes 2 one-bedroom units, 149 two-bedroom units, 104 three-bedroom units, and 5 four-bedroom units. This distribution suggests a focus on accommodating families of different sizes within the affordable housing framework.
Over the past decade, Central City has experienced demographic shifts that may correlate with its affordable housing landscape. The population has remained relatively stable, fluctuating between 3,300 and 3,800 residents. The median income has shown a significant upward trend, rising from $24,818 in 2015 to $43,372 in 2022. This increase in median income could potentially indicate a reduced need for additional affordable housing in recent years.
Racial demographics have also evolved, with the white population increasing from 62% in 2015 to 70% in 2022. Conversely, the Hispanic population decreased from 29% to 21% during the same period. These shifts in racial composition may influence the community's affordable housing needs and dynamics.
Central City's affordable housing landscape, shaped by LIHTC investments in the 1990s, appears to meet a substantial portion of the neighborhood's estimated housing needs. The two LIHTC projects provide a diverse range of unit sizes, catering to various household compositions. While no new LIHTC projects have been developed in the last decade, the rising median income and changing demographic profile suggest that the existing affordable housing stock may be sufficient for current needs. However, ongoing monitoring of demographic trends and housing affordability will be crucial to ensure the neighborhood continues to meet the needs of its low-income residents.
