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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Flushing, a neighborhood in Queens, New York, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area contains 639 total units in LIHTC projects, with 494 designated as low-income units. This represents approximately 2.3% of the estimated 27,647 housing units in the neighborhood.
The LIHTC program has made a substantial investment in Flushing, with project tax credits totaling $5,165,659. This equates to an average federal funding of $8,084 per unit in LIHTC-funded projects. Affordable housing has been a consistent feature of Flushing since 1996, with the most recent project completed in 2019, spanning a 23-year period.
The 2010s witnessed the most significant affordable housing development, with three projects completed during this decade: Selfhelp (Kvii) Associates in 2013, Macedonia Plaza Development LLC in 2014, and One Flushing in 2019. This indicates a recent increase in affordable housing initiatives in the neighborhood.
The LIHTC-funded projects in Flushing offer a range of unit types. Of the 639 total units, there are 72 efficiencies, 286 one-bedroom units, 119 two-bedroom units, and 27 three-bedroom units. This distribution suggests a focus on smaller households, with a significant number of units suitable for individuals or couples.
Flushing's population has remained relatively stable over the past decade, with minor fluctuations. The median income has shown an overall upward trend, increasing from $41,998 in 2017 to $48,162 in 2022. This rise in median income may indicate a growing need for affordable housing options to maintain economic diversity in the neighborhood.
Racial demographics in Flushing have remained consistent, with a predominant Asian population (around 70-73% over the past decade). The Hispanic population has slightly decreased from 15% to 14%, while other racial groups have maintained stable percentages. This demographic stability suggests that the LIHTC projects have been responding to consistent community needs.
Flushing's LIHTC-funded affordable housing inventory represents a sustained effort to provide affordable options in the neighborhood. The concentration of projects in the 2010s indicates a recent focus on expanding affordable housing. The diverse unit types cater to various household sizes, with an emphasis on smaller units. While the neighborhood's demographics have remained relatively stable, the rising median income underscores the ongoing importance of affordable housing initiatives to maintain community diversity and accessibility.