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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Collier City, a neighborhood in Pompano Beach, Florida, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 170 affordable units, all designated as low-income units. Based on the 2022 population of 4,154 and using the national average household size, the estimated housing inventory is approximately 1,592 units. The LIHTC funded affordable housing represents about 10.7% of the neighborhood's estimated housing inventory, indicating a substantial contribution to affordable housing in the area.
The neighborhood's LIHTC inventory is distributed across two projects: Pinnacle Village and Holiday Lake. Pinnacle Village, completed in 2005, is the larger project with 148 units, including 9 one-bedroom, 95 two-bedroom, and 44 three-bedroom units. Holiday Lake consists of 22 units, with no specified completion year. This distribution of unit sizes suggests an emphasis on accommodating families of various sizes within the affordable housing stock.
The presence of LIHTC projects in Collier City dates back to at least 2005, indicating over 15 years of affordable housing investment in the neighborhood. The 2000s saw the most significant addition to the affordable housing stock with the completion of Pinnacle Village.
Collier City has experienced demographic changes over the past decade. The population decreased slightly from 4,538 in 2013 to 4,154 in 2022. The median income increased from $26,652 in 2013 to $42,979 in 2022, suggesting improving economic conditions for residents.
Racial demographics have remained relatively stable, with a predominant Black population. There has been a slight decrease in the Black population percentage from 82% in 2013 to 72% in 2022, accompanied by small increases in Hispanic and multiracial populations. This trend towards increased diversity may influence future affordable housing needs and strategies.
Despite the increase in median income, the continued presence of LIHTC housing suggests an ongoing need for affordable options in the neighborhood. The stable racial composition, with a majority Black population, may indicate that these LIHTC projects play a crucial role in maintaining housing affordability for long-term residents.
Collier City's LIHTC funded affordable housing inventory, comprising 170 units across two projects, represents a significant portion of the neighborhood's estimated housing stock. The mix of unit sizes in Pinnacle Village, the larger of the two projects, suggests an effort to accommodate diverse household needs. While the neighborhood has seen an increase in median income over the past decade, the maintained LIHTC inventory indicates an ongoing commitment to preserving affordable housing options. The demographic trends, including a slight decrease in population and subtle shifts in racial composition, may influence future affordable housing strategies in Collier City.