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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Germantown West Central, a neighborhood in Philadelphia, Pennsylvania, has a population of 8,777 as of 2022. The neighborhood's Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory consists of one project with a total of 70 units, including 7 low-income units. Based on the estimated 3,363 housing units in the neighborhood, the LIHTC funded affordable housing covers approximately 2.08% of the neighborhood's housing inventory.
The LIHTC program has provided $847,624 in tax credits for affordable housing in Germantown West Central. This translates to an average federal funding of $12,109 per unit in the LIHTC-funded project. The sole LIHTC project in the neighborhood, Center In The Park Senior Housing, was completed in 2002, marking the beginning of LIHTC-funded affordable housing in the area.
The project consists of 64 one-bedroom units and 6 two-bedroom units, indicating a focus on smaller household sizes. This composition suggests that the project may be tailored towards seniors or small families.
Over the past decade, Germantown West Central has experienced demographic shifts. The population has grown from 7,172 in 2014 to 8,777 in 2022, representing a 22.4% increase. During this period, the median income fluctuated, peaking at $68,937 in 2018 before decreasing to $58,197 in 2022.
The racial composition of the neighborhood has remained relatively stable, with the Black population consistently representing the majority. However, there has been a slight decrease in the Black population percentage from 62% in 2014 to 57% in 2022, while the White population has remained relatively constant at around 25-26%. The Hispanic population has shown a small increase from 5% to 7% during this period.
Despite these demographic changes, no new LIHTC projects have been developed in the neighborhood since 2002. This could be due to various factors, including changes in funding priorities, local zoning regulations, or the availability of other affordable housing programs not captured in this data.
Germantown West Central's LIHTC-funded affordable housing inventory is limited to one project completed in 2002, providing 70 units with 7 designated as low-income. This accounts for a small percentage of the neighborhood's estimated housing stock. The project's focus on one and two-bedroom units suggests a target towards smaller households or seniors. While the neighborhood has experienced population growth and income fluctuations over the past decade, there has been no corresponding increase in LIHTC-funded affordable housing. The racial composition has remained relatively stable, with a slight decrease in the Black population and a small increase in the Hispanic population. These demographic trends and the limited LIHTC inventory highlight the complex nature of affordable housing needs and provision in urban neighborhoods.