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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Cordova-Appling, a neighborhood in Memphis, Tennessee, has a population of 84,898 as of 2022. The area contains one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, which provides 152 low-income units. This project accounts for approximately 0.47% of the neighborhood's estimated housing inventory of 32,528 units.
The LIHTC program has allocated $322,744 in tax credits to the Cordova-Appling neighborhood for affordable housing, resulting in an average federal funding of $2,123 per unit. The single LIHTC-funded project, Countryside North Apartments, was completed in 1998 and has been operational for over two decades.
Countryside North Apartments consists of 152 units, all designated as low-income. The project offers a variety of unit sizes, including 22 one-bedroom units, 108 two-bedroom units, and 22 three-bedroom units. This distribution indicates an effort to accommodate diverse household sizes and needs.
Cordova-Appling has undergone demographic changes over the past decade. The population increased from 82,032 in 2013 to 84,898 in 2022, demonstrating moderate growth. The median income has remained relatively stable, increasing slightly from $71,958 in 2013 to $72,949 in 2022.
The racial composition of the neighborhood has shifted significantly. The percentage of Black residents rose from 29% in 2013 to 44% in 2022, while the percentage of White residents decreased from 57% to 38% during the same period. The Hispanic population grew from 6% to 9%, and the Asian population remained relatively stable at 4-6%.
Despite these demographic changes, no new LIHTC projects have been developed in the neighborhood since 1998. This lack of new development may be attributed to various factors, such as land availability, zoning restrictions, or the presence of alternative affordable housing programs not reflected in this data.
Cordova-Appling's LIHTC-funded affordable housing inventory is limited to one project, Countryside North Apartments, which provides 152 low-income units. This represents a small portion (0.47%) of the estimated housing stock in the neighborhood. The project, completed in 1998, offers a range of unit sizes to accommodate different household needs. Over the past decade, the neighborhood has experienced population growth and significant shifts in racial composition, with an increase in Black residents and a decrease in White residents. However, no new LIHTC projects have been developed since 1998, suggesting that other factors may be influencing affordable housing development in the area.