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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Grand Crossing, a neighborhood in Chicago, Illinois, contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 34 total units, with 25 designated as low-income units. Based on the 2022 population of 10,893 and the national average household size of 2.61, the estimated number of housing units in the neighborhood is approximately 4,174. LIHTC funded affordable housing represents about 0.82% of the estimated housing inventory in Grand Crossing.
The LIHTC program has invested $764,924 in tax credits for affordable housing projects in Grand Crossing. This equates to an average federal funding of approximately $22,498 per unit. LIHTC-funded affordable housing projects in the neighborhood span from 1989 to 2014, indicating a 25-year presence of such initiatives.
The earliest recorded LIHTC project in Grand Crossing is "7835 S Drexel Ave," completed in 1989. The most recent project, "Dorchester Artist Housing," was completed in 2014. The 2010s saw the largest LIHTC development in terms of unit count, with the Dorchester Artist Housing project adding 32 units, including 23 low-income units.
The available data shows a focus on larger family-sized units in the LIHTC inventory. It includes 17 two-bedroom units and 15 three-bedroom units, suggesting an emphasis on accommodating families within the affordable housing stock.
Grand Crossing has experienced demographic shifts over the past decade. The population decreased from 12,271 in 2010 to 10,893 in 2022. The median income increased overall, rising from $30,011 in 2013 to $30,616 in 2022, with fluctuations in between. The neighborhood has remained predominantly Black, though there has been a slight decrease from 97% in 2018 to 90% in 2022. Concurrently, there has been a small increase in Hispanic and White populations, rising to 5% and 3% respectively by 2022.
The completion of the Dorchester Artist Housing project in 2014 coincides with a period of relative population stability and the beginning of a gradual increase in median income. This suggests that the LIHTC project may have contributed to stabilizing the neighborhood's housing market and potentially attracting a more diverse population.
Grand Crossing's LIHTC-funded affordable housing inventory has provided a consistent presence of affordable options over the past 25 years. The focus on larger units suggests an emphasis on family housing. The most recent project, completed in 2014, represents a significant portion of the neighborhood's LIHTC inventory. While demographic shifts have been gradual, the presence of LIHTC housing may have played a role in stabilizing the neighborhood's population and contributing to economic diversity. The analysis indicates the ongoing importance of affordable housing initiatives in supporting community stability and development in Grand Crossing.