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Affordable Housing in Downtown Stamford: LIHTC Impact and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Downtown Stamford, Connecticut, is an urban neighborhood with a growing population and a substantial LIHTC-funded affordable housing inventory. The neighborhood contains 458 total units in LIHTC-funded projects, with 457 designated as low-income units. Based on the 2022 population of 23,559 and an estimated 9,026 housing units, LIHTC-funded affordable housing comprises approximately 5.1% of the neighborhood's estimated housing inventory.
The LIHTC program has contributed to affordable housing in Downtown Stamford for over three decades. The earliest recorded LIHTC project, Putnam Square, was completed in 1991, while the most recent dated project, Park City Residential Care Home, was finished in 2001. This indicates at least a 10-year span of LIHTC investment in the area.
The 1990s saw the most LIHTC project completions, with Putnam Square (1991), Renaissance Plaza (1992), and Stratfield Apts (2000) all being constructed during this decade. This period likely represented a significant push for affordable housing development in the neighborhood.
The LIHTC-funded housing stock in Downtown Stamford offers a range of unit types. Of the 458 total units, there are 179 efficiencies, 195 one-bedroom units, 54 two-bedroom units, and 12 three-bedroom units. This distribution suggests a focus on accommodating smaller households and individuals.
Over the past decade, Downtown Stamford has experienced population growth, increasing from 17,968 in 2013 to 23,559 in 2022. The median income has fluctuated, peaking at $93,279 in 2017 and declining to $81,363 in 2022. This trend might indicate a growing need for affordable housing options.
The racial composition of the neighborhood has shifted. The proportion of Black residents increased from 16% in 2019 to 28% in 2022, while the Asian population decreased from 20% to 13% in the same period. The Hispanic population has remained relatively stable at around 20-22%. These demographic changes could influence future affordable housing needs and planning.
Downtown Stamford's LIHTC-funded affordable housing inventory represents a significant portion of the neighborhood's housing stock, covering about 5.1% of estimated units. The area saw substantial LIHTC development in the 1990s, resulting in a mix of unit types, predominantly efficiencies and one-bedrooms. While no new LIHTC projects have been recorded in recent years, the neighborhood's growing population and fluctuating median income suggest an ongoing need for affordable housing options. The changing racial demographics may also influence future affordable housing strategies in Downtown Stamford.
