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Affordable Housing in East Industrial: Recent LIHTC Projects Shape Neighborhood Dynamics
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The East Industrial neighborhood in Fremont, California, demonstrates a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood contains 147 total units in LIHTC-funded projects, with 146 designated as low-income units. Based on the 2022 population of 2,428 and the estimated 930 housing units, LIHTC-funded affordable housing comprises approximately 15.8% of the neighborhood's estimated housing inventory.
The LIHTC program has made substantial investments in East Industrial, with project tax credits totaling $2,631,510. This equates to an average federal funding of approximately $17,900 per unit in LIHTC-funded projects. The neighborhood has witnessed the completion of LIHTC projects in 2018 and 2020, indicating recent affordable housing development. The Mission Court Senior Apartments was completed in 2018, while the Warm Springs Inclusionary project was finished in 2020, representing the most recent addition to the affordable housing stock.
The 2020s have been the most active decade for affordable housing development in East Industrial. The housing inventory includes a variety of unit types, consisting of 87 one-bedroom units, 55 two-bedroom units, and 4 three-bedroom units. This distribution suggests a focus on smaller households and potentially senior living arrangements.
East Industrial has experienced significant population growth over the past decade, increasing from 1,254 in 2013 to 2,428 in 2022. The median income has fluctuated, reaching a peak of $182,189 in 2019 before decreasing to $142,722 in 2022. Despite these changes, the development of LIHTC projects in 2018 and 2020 indicates a recognized need for affordable housing even in a relatively high-income area.
The racial composition of the neighborhood has remained relatively stable, with a predominant Asian population (73% in 2022) and slight increases in Hispanic (10% in 2022) and Black (3% in 2022) residents. The recent LIHTC developments may be responding to the needs of a diverse and growing population.
East Industrial has seen recent investment in affordable housing through the LIHTC program, with projects completed in 2018 and 2020. These developments have added 147 units to the neighborhood, covering about 15.8% of the estimated housing inventory. The mix of unit types suggests a focus on smaller households and potentially senior living. The neighborhood's demographic trends, including population growth and income fluctuations, align with the recent addition of affordable housing options. This LIHTC-funded housing plays a crucial role in maintaining housing diversity in a predominantly Asian neighborhood with a high median income.
