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Affordable Housing in Hunters Point: LIHTC Investments and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Hunters Point, a neighborhood in San Francisco, California, possesses a substantial inventory of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area contains 1,079 total units in LIHTC-funded projects, with 874 designated as low-income units. This quantity of affordable housing units is significant in addressing the neighborhood's housing needs.
Based on the 2022 population of 6,384 and the national average household size of 2.61, an estimated 2,446 housing units exist in Hunters Point. The LIHTC-funded affordable housing units comprise approximately 44% of this estimated housing inventory, indicating a considerable presence of affordable housing in the neighborhood.
The LIHTC program has made substantial investments in Hunters Point, with project tax credits totaling $18,986,655. This equates to an average federal funding of $17,596 per unit in LIHTC-funded projects. Affordable housing has been a consistent feature in Hunters Point, with projects spanning from 2006 to 2018. The initial LIHTC project, Jackie Robinson Apts, was completed in 2006, while the most recent, Westbrook Apartments, was finished in 2018. This 12-year period demonstrates a sustained commitment to affordable housing development in the area.
The decade from 2010 to 2019 witnessed the completion of most affordable housing projects, with six out of the eight projects constructed during this time. Notable projects include Hunters View Phase I (2013), Pacific Pointe At The Shipyard (2016), and Hunters Point East West (2017).
The LIHTC-funded projects in Hunters Point offer a diverse range of unit types. Of the 1,079 total units, there are 13 efficiencies, 123 one-bedroom units, 366 two-bedroom units, 312 three-bedroom units, and 139 four-bedroom units. This distribution accommodates various household sizes and needs within the community.
Over the last decade, Hunters Point has experienced significant demographic changes alongside its LIHTC developments. The population has increased from 4,885 in 2019 to 6,384 in 2022, a 30.7% growth. This increase coincides with the completion of several LIHTC projects, suggesting a possible correlation between affordable housing availability and population growth.
Median income in the neighborhood has also risen, from $35,188 in 2019 to $45,498 in 2022, a 29.3% increase. This upward trend in income levels may indicate improving economic conditions for residents, potentially influenced by the stability provided by affordable housing options.
Racial demographics have shown some changes. The Black population, while remaining the largest group, decreased from 51% in 2021 to 43% in 2022. The Asian population increased slightly from 13% to 15%, and the Hispanic population remained relatively stable at around 23-25%. These changes suggest a gradual diversification of the neighborhood's racial composition.
Hunters Point demonstrates a substantial commitment to affordable housing through its LIHTC-funded projects. With 1,079 total units, of which 874 are low-income units, these developments cover a significant portion of the neighborhood's estimated housing inventory. The consistent development of affordable housing projects from 2006 to 2018, particularly concentrated in the 2010s, indicates ongoing efforts to address housing needs. The diverse range of unit types caters to various household sizes, contributing to a more inclusive community. Concurrent with these housing developments, the neighborhood has experienced population growth, rising median incomes, and subtle shifts in racial demographics, suggesting a dynamic and evolving community landscape.
