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Affordable Housing in Griers Fork: Three Decades of LIHTC Investment
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Griers Fork, a neighborhood in Charlotte, North Carolina, contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory consists of 147 total units, with 145 designated as low-income units. Based on the 2022 population of 6,406 and the national average household size of 2.61, the estimated number of housing units in the neighborhood is 2,454. LIHTC funded affordable housing represents approximately 6% of the estimated housing inventory in Griers Fork.
The LIHTC program has invested in Griers Fork, with project tax credits totaling $478,418. This equates to an average federal funding of $3,254 per unit in LIHTC-funded projects. Affordable housing development in the neighborhood has occurred over time. The earliest recorded LIHTC project, Summerfield Apts, was completed in 1992, while The Landings At Steele Creek was completed in 2001. This indicates that affordable housing has been present in Griers Fork for at least three decades.
The 1990s and early 2000s appear to be the most active period for LIHTC development in Griers Fork. The housing inventory includes a variety of unit sizes. There are 3 one-bedroom units, 75 two-bedroom units, 38 three-bedroom units, and 4 four-bedroom units, accommodating various family sizes and needs.
Griers Fork has experienced demographic changes over the past decade. The population has remained relatively stable, ranging between 6,300 and 6,900 residents. Median income has shown an overall increase, rising from $66,530 in 2013 to $71,536 in 2022, with a peak of $84,485 in 2021.
Racial demographics have also changed. The Black population has increased from 29% in 2013 to 35% in 2022. The Hispanic population has grown significantly, from 26% in 2013 to 36% in 2022, becoming the largest racial group in the neighborhood. The White population has decreased from 29% to 23% over the same period. These demographic shifts, particularly the growth in Hispanic and Black populations, may indicate an ongoing need for affordable housing options in Griers Fork. The rising median income suggests a complex economic landscape where affordable housing continues to play an important role in maintaining community diversity.
Griers Fork's LIHTC-funded affordable housing inventory represents a significant investment in the community's housing landscape. With 147 total units, including 145 low-income units, these projects contribute to about 6% of the estimated housing stock. The neighborhood has seen LIHTC development for at least three decades, with a focus on two and three-bedroom units. While the population has remained relatively stable, demographic shifts, particularly in racial composition and median income, highlight the importance of affordable housing in maintaining community diversity and meeting evolving needs. The LIHTC program continues to play a crucial role in Griers Fork's housing ecosystem, supporting its diverse population.
