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Affordable Housing in Greenville: LIHTC's Impact on Jersey City Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Greenville, a neighborhood in Jersey City, New Jersey, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area contains 630 total units in LIHTC-funded projects, with 591 of these designated as low-income units. Based on the 2022 population of 57,581 and an estimated 22,062 housing units, the LIHTC-funded affordable housing represents approximately 2.85% of the neighborhood's estimated housing inventory.
The LIHTC program has invested substantially in Greenville, with project tax credits totaling $8,510,754. This equates to an average federal funding of about $13,509 per unit in LIHTC-funded projects. The neighborhood has experienced consistent development of affordable housing over the years, with the earliest recorded project completed in 1993 and the most recent in 2020. This 27-year span demonstrates a long-term commitment to affordable housing in the area.
The 2010s saw the most significant affordable housing development activity in Greenville. Notable projects from this period include Ocean Pointe Senior and Ocean Pointe East And West (both completed in 2010), Fred W. Martin Apartments (2011), and several projects completed in 2012 such as Garfield Heights, Bostwick Court, and 99 Rutgers. The inventory includes a mix of unit types, with at least 104 one-bedroom units recorded. This variety suggests an effort to accommodate different household sizes and needs within the affordable housing stock.
Over the past decade, Greenville has experienced population growth, with the population increasing from 51,697 in 2015 to 57,581 in 2022. The median income has also risen, from $53,862 in 2015 to $59,913 in 2022, indicating a general improvement in economic conditions.
Regarding racial demographics, the neighborhood has maintained a diverse composition. The Black population has decreased from 46% in 2015 to 40% in 2022, while the Hispanic population has increased from 24% to 30% during the same period. The Asian and White populations have remained relatively stable at around 13-15% each.
The continued development of LIHTC projects throughout this period, including the completion of Ocean Towers in 2017 and Dr Lena Francis Edwards in 2020, suggests an ongoing need for affordable housing despite the rising median income.
Greenville's LIHTC-funded affordable housing inventory represents a small but significant portion of the neighborhood's estimated housing stock. The consistent development of affordable housing projects over nearly three decades demonstrates a sustained effort to address low-income housing needs. While the neighborhood has experienced population growth and increased median income, the continued implementation of LIHTC projects indicates an ongoing demand for affordable housing options. The diverse racial composition of Greenville has remained relatively stable, with slight shifts in proportions over the past decade. These demographic trends, coupled with the LIHTC project developments, suggest a complex interplay between housing needs, economic growth, and demographic changes in the neighborhood.
