Loading Content...
Affordable Housing in Central Colorado Springs: A Two-Decade LIHTC Journey
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Central Colorado Springs, a neighborhood in Colorado Springs, Colorado, had a population of 61,613 in 2022. The area features a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 452 total units, with 335 designated as low-income units. This LIHTC funded housing represents approximately 1.92% of the neighborhood's estimated 23,607 housing units.
The LIHTC program has invested $3,842,141 in tax credits for affordable housing projects in Central Colorado Springs, averaging $8,500 per unit across all LIHTC funded projects. The first LIHTC project, Plaza On The Platte, was completed in 1996, and the most recent, Greenway Flats PSH, in 2019. This 23-year span indicates a long-term commitment to affordable housing in the area. The 2000s saw significant affordable housing development, with projects such as Hillside Pointe Apts, Wyndam Place Senior Residences, and Homewood Point Apts completed during this decade.
The affordable housing inventory in Central Colorado Springs includes 96 efficiencies, 154 one-bedroom units, 190 two-bedroom units, and 12 three-bedroom units. This distribution suggests a focus on accommodating smaller households and potentially senior citizens.
Central Colorado Springs experienced population growth over the past decade, increasing from 54,522 in 2012 to 61,613 in 2022. The median income rose from $40,514 in 2013 to $49,359 in 2022, indicating improving economic conditions for residents.
The racial composition of the neighborhood remained relatively stable. The white population decreased slightly from 69% in 2013 to 66% in 2022. The Hispanic population maintained around 20% throughout this period. There was a small increase in residents identifying as two or more races, from 3% to 6%. The completion of Greenway Flats PSH in 2019 suggests an ongoing need for affordable housing despite overall economic improvement.
Central Colorado Springs has an established LIHTC funded affordable housing inventory developed over more than two decades. While the current LIHTC funded units cover a small percentage of the estimated housing stock, they provide essential affordable options for low-income residents. The neighborhood has experienced gradual population growth and increasing median incomes over the past decade. The continued development of affordable housing projects indicates an ongoing commitment to maintaining housing accessibility for various income levels within the community.
