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Affordable Housing in Gladeview: LIHTC Program Impact and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Gladeview, located in Florida, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city has a total of 1,239 units in LIHTC-funded projects, with 1,132 of these designated as low-income units. Based on the estimated housing inventory of 5,880 units, the LIHTC-funded affordable housing covers approximately 21.1% of the city's housing stock, indicating that LIHTC-funded affordable housing plays a substantial role in meeting the city's housing needs.
Gladeview has received $8,562,350 in project tax credits through the LIHTC program. With approximately 9 projects, this translates to an average federal funding of $951,372 per project. When considering the total units, the average federal funding amounts to $6,910 per unit. Notably, Gladeview holds 1.26% of Florida's total LIHTC funding, which is significant for a relatively small community. The city's affordable housing journey spans from 2004 to 2020, with the first project, Hibiscus Pointe, completed in 2004, and the most recent, Northside Transit Village IV, finished in 2020.
The 2010s saw the most affordable housing development activity, with five projects completed during this decade. Notable projects include Scott Carver IIa - IIb and Scott Carver IIc, both completed in 2012, and Northside Transit Village I in 2015. The LIHTC-funded housing stock in Gladeview includes a mix of unit types, with 226 one-bedroom, 379 two-bedroom, 212 three-bedroom, and 43 four-bedroom units. This diverse range of unit sizes helps accommodate various household compositions within the low-income population.
Over the last decade, Gladeview has experienced significant demographic changes alongside its LIHTC developments. The population has grown from 11,510 in 2013 to 15,346 in 2022, an increase of about 33%. During this period, the median income has also risen, from $24,096 in 2013 to $32,461 in 2022, indicating an overall improvement in economic conditions.
The racial composition of Gladeview has shifted somewhat during this time. While the Black population remains the majority, its proportion has decreased from 73% in 2013 to 61% in 2022. Conversely, the Hispanic population has grown from 24% to 37% during the same period. This demographic shift may influence the need for culturally sensitive affordable housing options.
Gladeview's LIHTC-funded affordable housing inventory plays a crucial role in the city's housing landscape, covering over 21% of the estimated housing stock. The city has received substantial federal funding for these projects, averaging nearly $1 million per project. The development of affordable housing has been consistent over the years, with the most activity occurring in the 2010s. The diverse range of unit types suggests an effort to accommodate various household sizes within the low-income population. As the city continues to grow and change demographically, the ongoing development of affordable housing through programs like LIHTC remains important to meet the evolving needs of the community.
