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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Gandy-Sun Bay South neighborhood in Tampa, Florida, contains a significant number of Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. The area has 438 total units in LIHTC-funded projects, with 243 designated as low-income units. These units represent approximately 7.1% of the neighborhood's housing inventory, based on the 2022 population of 16,206 and an estimated 6,209 housing units.
The LIHTC program has invested $745,544 in tax credits for affordable housing projects in this neighborhood. This equates to an average federal funding of $1,702 per unit across all LIHTC-funded projects. The neighborhood experienced LIHTC-funded affordable housing development from 2005 to 2006, indicating a concentrated period of construction.
Two notable projects in the area are Clipper Bay, completed in 2005, and Gardens At South Bay, finished in 2006. The mid-2000s appear to be the most active period for LIHTC-funded affordable housing development in this neighborhood.
The affordable housing inventory in Gandy-Sun Bay South is diverse in its unit composition. Of the 438 total units, there are 30 one-bedroom units, 228 two-bedroom units, 144 three-bedroom units, and 36 four-bedroom units. This distribution indicates a focus on accommodating families of various sizes, with an emphasis on two and three-bedroom units.
The neighborhood has experienced steady population growth over the past decade, increasing from 14,468 in 2013 to 16,206 in 2022. The median income has also risen, from $52,743 in 2013 to $61,563 in 2022, indicating an overall improvement in economic conditions.
Racial demographics have remained relatively stable. The white population decreased slightly from 61% in 2013 to 59% in 2022, while the Hispanic population increased from 14% to 18% over the same period. The Black population decreased from 15% to 9%, and the Asian population remained steady at around 4-5%.
No new LIHTC projects have been recorded in the last decade. However, the existing affordable housing continues to contribute to the neighborhood's housing mix. The increasing median income and relatively stable racial composition suggest that the area may have different affordable housing needs now compared to when the LIHTC projects were initially developed.
The Gandy-Sun Bay South neighborhood has a modest but significant LIHTC-funded affordable housing presence, representing about 7.1% of the estimated housing inventory. The area saw concentrated development of these projects in the mid-2000s, with a diverse mix of unit types catering to various household sizes. While demographic trends show increasing population and median income over the past decade, the existing LIHTC projects continue to contribute to the neighborhood's affordable housing stock, though changing economic conditions may have altered the area's affordable housing needs since these projects were initially developed.