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Affordable Housing in Charlotte's Harwood Lane: LIHTC Impact on a Changing 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
Harwood Lane, a neighborhood in Charlotte, North Carolina, contains 62 LIHTC-funded affordable housing units, all designated as low-income. These units represent approximately 1.63% of the neighborhood's estimated 3,801 housing units, based on the 2022 population of 9,920.
The LIHTC program has invested $565,201 in tax credits for affordable housing in Harwood Lane, averaging $9,116 per unit in federal funding. The neighborhood's only LIHTC project, Catawba Senior Housing, was completed in 2014, initiating LIHTC-funded affordable housing in the area.
Catawba Senior Housing consists of 62 units, including 44 one-bedroom and 18 two-bedroom apartments. This unit distribution indicates a focus on smaller households, potentially targeting the senior population as suggested by the project's name.
Harwood Lane has experienced significant demographic changes over the past decade. The population increased from 8,020 in 2013 to 9,920 in 2022, a 23.7% growth. Median income rose from $78,735 in 2013 to $91,644 in 2022, a 16.4% increase.
The racial composition of the neighborhood has shifted substantially. The Black population increased from 35% in 2013 to 50% in 2022, while the White population decreased from 53% to 34%. The Hispanic population grew from 5% to 11%, and the Asian population increased from 1% to 4%.
The introduction of LIHTC-funded housing in 2014 coincided with these demographic changes, potentially addressing evolving housing needs in the neighborhood. The focus on senior housing may reflect an aging population or a specific need identified for this demographic group.
Harwood Lane's LIHTC-funded affordable housing provides 62 low-income units primarily suited for smaller households. The neighborhood has experienced significant population growth, income increases, and racial demographic shifts over the past decade. The introduction of affordable senior housing in 2014 aligns with these changes, potentially addressing evolving community needs. While the LIHTC-funded units represent a small portion of the estimated housing inventory, they contribute to diversifying housing options in this changing Charlotte neighborhood.
