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Affordable Housing in Hamilton Heights: A Longitudinal Analysis of LIHTC Projects
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Hamilton Heights, a neighborhood in Manhattan, New York, is characterized by its historic architecture and diverse community. The Low-Income Housing Tax Credit (LIHTC) program has significantly contributed to affordable housing in this area. The neighborhood contains 1,842 total units in LIHTC-funded projects, with 1,374 designated as low-income units. Based on the 2022 population of 59,231 and an estimated 22,694 housing units, LIHTC-funded affordable housing comprises approximately 8.1% of the neighborhood's estimated housing inventory.
The LIHTC program has invested $13,477,848 in tax credits for affordable housing projects in Hamilton Heights. This equates to an average federal funding of about $7,317 per unit across all LIHTC-funded projects in the area.
Affordable housing has been present in Hamilton Heights for over three decades. The initial LIHTC project, "Round I (First Whga Dev)," was completed in 1990, while the most recent projects, "PS 186 Residences" and "Heights 150th Street," were finished in 2016. This indicates a long-term commitment to providing affordable housing options in the neighborhood.
The 1990s experienced the most substantial growth in LIHTC-funded affordable housing, with numerous projects completed during this decade, including "149Th & Amsterdam" (1991), "Round II (Whga Amsterdam II)" (1992), and "Corner House" (1997).
The LIHTC-funded projects in Hamilton Heights offer a range of unit types. The inventory includes 231 efficiencies, 373 one-bedroom units, 318 two-bedroom units, 102 three-bedroom units, and 10 four-bedroom units. This variety accommodates different household sizes and needs within the community.
Over the past decade, Hamilton Heights has undergone demographic shifts. The population has remained relatively stable, with a slight increase from 58,388 in 2015 to 59,231 in 2022. During this period, the median income has increased significantly, from $46,902 in 2015 to $61,931 in 2022, representing a 32% increase.
Racial demographics have also changed. The Hispanic population has remained the largest group, consistently representing about half of the neighborhood's residents. The Black population has decreased slightly from 27% in 2015 to 25% in 2022, while the White population has increased from 15% to 18% during the same period. The Asian population has grown marginally from 3% to 4%.
Despite the rise in median income, the continued presence of LIHTC projects suggests an ongoing need for affordable housing in the area. The most recent LIHTC projects completed in 2016 indicate that affordable housing development has continued even as the neighborhood's economic profile has improved.
Hamilton Heights has a substantial inventory of LIHTC-funded affordable housing, covering about 8.1% of the estimated housing stock. The neighborhood has seen consistent development of affordable housing over three decades, with a particular focus in the 1990s. The diverse unit types available cater to various household sizes and needs. While the median income has increased significantly in recent years, the continued development of LIHTC projects up to 2016 suggests an ongoing commitment to maintaining affordable housing options in this evolving neighborhood.
