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Affordable Housing in Forest Hills: LIHTC's Impact on a Cleveland Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Forest Hills, a neighborhood in Cleveland, Ohio, has a presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood currently has 89 affordable housing units, all designated as low-income units. Based on the 2022 population of 8,589 and using the national average household size, there are approximately 3,291 housing units in the neighborhood. The LIHTC-funded affordable housing comprises about 2.7% of the estimated housing inventory in Forest Hills.
The LIHTC program has invested $772,484 in project tax credits for affordable housing in Forest Hills. This equates to an average federal funding of approximately $8,680 per unit. The neighborhood has maintained a consistent commitment to affordable housing over the years, with projects dating from 1988 to 1999. The earliest project, Temar Properties II, was completed in 1988, while the most recent, Lakeview Place Development, was finished in 1999.
The 1990s were particularly active for affordable housing construction in Forest Hills. Three out of the four LIHTC projects were completed during this decade, including Gary L Grasso Housing #2 in 1992, Northeastern Neighborhood Homes II in 1997, and Lakeview Place Development in 1999. The LIHTC-funded projects include at least 27 three-bedroom units and 36 four-bedroom units, suggesting a focus on accommodating larger families within the affordable housing stock.
Over the past decade, Forest Hills has experienced a population decline, decreasing from 11,457 in 2014 to 8,589 in 2022. Despite this decrease, the median income has shown a positive trend, increasing from $22,617 in 2014 to $27,625 in 2022. This may indicate a changing demographic composition in the neighborhood.
The racial composition of Forest Hills has remained relatively stable, with a predominant African American population. In 2014, 98% of the population was Black, and this percentage has slightly decreased to 94% in 2022. There has been a small increase in racial diversity, with slight growth in the Hispanic population and those identifying as two or more races.
Forest Hills presents a case of affordable housing development through the LIHTC program. The affordable housing stock covers a small percentage of the estimated housing inventory, representing a long-term commitment to providing low-income housing options in the neighborhood. The concentration of development in the 1990s indicates a period of focused affordable housing growth. Despite population decline, the area has seen rising median incomes, which could impact future affordable housing needs. The stable racial composition suggests that the LIHTC projects have been serving a predominantly African American community over the years.
