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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Front Park, a neighborhood in Buffalo, New York, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 115 total units, with 88 designated as low-income units. This represents approximately 2.1% of the estimated 5,421 housing units in the neighborhood, based on the 2022 population of 14,148 and the national average household size of 2.61. The LIHTC program has invested $1,520,612 in project tax credits for affordable housing in Front Park, averaging $13,223 in federal funding per unit.
The LIHTC program has maintained a presence in Front Park for 25 years, with projects spanning from 1993 to 2018. The 2010s witnessed the most significant development of LIHTC-funded affordable housing in the area. Notable projects include the Niagara Gateway Apartments, completed in 2017 with 53 low-income units, and School 77, finished in 2018 with 3 low-income units out of 30 total units.
The LIHTC-funded affordable housing inventory in Front Park primarily consists of one-bedroom and two-bedroom units. Of the 115 total units, 73 are one-bedroom apartments, and 42 are two-bedroom apartments. This distribution indicates a focus on housing for smaller households or individuals.
Front Park has experienced demographic shifts over the past decade. The population has remained relatively stable, increasing slightly from 13,689 in 2013 to 14,148 in 2022. Median income has grown significantly, rising from $27,620 in 2013 to $43,802 in 2022, potentially indicating improved economic conditions for residents.
Racial demographics in Front Park have also evolved. The white population increased from 35% in 2013 to 41% in 2022, while the Black population decreased from 17% to 11%. The Hispanic population decreased from 31% to 25%, and the Asian population increased from 11% to 18% during this period.
The completion of two LIHTC projects in 2017 and 2018 coincides with a period of increasing median income and changing racial demographics, suggesting that these projects may have been responding to evolving housing needs in the neighborhood.
Front Park's LIHTC-funded affordable housing inventory, while modest in relation to the estimated total housing stock, represents a consistent effort to provide low-income housing options. The neighborhood has seen steady development of LIHTC projects over 25 years, with a concentration of activity in the late 2010s. The focus on one-bedroom and two-bedroom units aligns with the needs of smaller households. As the neighborhood continues to experience demographic changes and income growth, ongoing assessment of affordable housing needs will be crucial to ensure that housing options remain accessible to all residents.