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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The North East neighborhood of Hartford, Connecticut, exhibits a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood contains 277 units in LIHTC-funded projects, including 181 designated low-income units. This represents approximately 5.3% of the neighborhood's estimated housing inventory, based on the 2022 population of 13,561 and an estimated 5,196 housing units.
The LIHTC program has invested $883,896 in tax credits for affordable housing projects in the North East neighborhood. This equates to an average federal funding of about $3,190 per unit across all LIHTC-funded projects. The development of affordable housing in the neighborhood has occurred steadily over time, with projects dating from 1997 to 2014.
The 1990s and early 2000s were particularly active periods for affordable housing development in the neighborhood. Notable projects include Clearview Apts and Nelson Street Apts, both completed in 1997, which marked the beginning of LIHTC-funded housing in the area. The most recent project, Horace Bushnell Apartments, completed in 2014, is specifically targeted towards supportive housing.
The LIHTC-funded housing inventory in the North East neighborhood offers a diverse range of unit sizes to accommodate different household needs. The inventory includes 8 efficiencies, 66 one-bedroom units, 122 two-bedroom units, 79 three-bedroom units, and 2 four-bedroom units. This distribution suggests a focus on accommodating small to medium-sized families.
Over the past decade, the North East neighborhood has experienced demographic shifts. The population has remained relatively stable, with slight fluctuations. The median income has shown an overall increasing trend, rising from $33,804 in 2013 to $39,095 in 2022, indicating a gradual improvement in economic conditions.
Racial demographics have also evolved. The Black population has decreased from 71% in 2013 to 61% in 2022, while the Hispanic population has increased from 21% to 29% during the same period. This shift suggests growing diversity in the neighborhood.
The most recent LIHTC project, completed in 2014, coincides with a period of relative economic stability and demographic change in the neighborhood. The focus on supportive housing in this project may reflect an evolving need within the community.
The North East neighborhood of Hartford has a notable presence of LIHTC-funded affordable housing, representing about 5.3% of the estimated housing inventory. The development of these projects spans nearly two decades, with a mix of unit sizes to accommodate various household needs. The neighborhood has experienced gradual economic improvement and demographic shifts over the past decade, which may influence future affordable housing needs and development strategies.