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Affordable Housing in Ida B. Wells - Darrow Homes: A Case Study of LIHTC Implementation
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Ida B. Wells - Darrow Homes neighborhood in Chicago, Illinois, exhibits a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood contains 848 total units in LIHTC funded projects, with 736 designated as low-income units. Based on an estimated 1,500 housing units in the neighborhood, LIHTC funded affordable housing comprises approximately 56.5% of the neighborhood's housing inventory, indicating a substantial contribution to affordable housing needs.
The LIHTC program has invested $5,499,052 in tax credits for affordable housing projects in this neighborhood. This investment equates to an average federal funding of approximately $6,485 per unit. The neighborhood has experienced consistent development of affordable housing over several decades. The initial LIHTC project, Lake Grove Village Apts, was completed in 1999, while the most recent project, Oakwood Shores 2D, was finished in 2013. This 14-year span demonstrates a long-term commitment to affordable housing in the area.
The 2000s witnessed the most affordable housing development activity, with three out of four projects completed during this decade. These include Madden Wells Phase 1A (2004), Madden Wells Redevelopment (2006), and Oakwood Shores 2D (2013). The LIHTC funded projects in the neighborhood offer a diverse range of unit types. There are 205 one-bedroom units, 470 two-bedroom units, 162 three-bedroom units, and 11 four-bedroom units. This distribution suggests a focus on accommodating various family sizes, with a particular emphasis on smaller households and families.
Over the past decade, the neighborhood has experienced fluctuations in population, with an overall growth trend. The population increased from 3,326 in 2014 to 3,915 in 2022. Concurrently, the median income has shown a significant rise, growing from $14,721 in 2014 to $20,490 in 2022, indicating improving economic conditions for residents.
The racial composition of the neighborhood has remained predominantly Black, although there has been a slight decrease from 97% in 2014 to 91% in 2022. During this period, there has been a notable increase in the Hispanic population, rising from less than 1% to 6%. This shift suggests a gradual diversification of the neighborhood's demographics.
The Ida B. Wells - Darrow Homes neighborhood demonstrates a substantial commitment to affordable housing through LIHTC funded projects. These developments cover more than half of the estimated housing inventory, providing a significant resource for low-income residents. The neighborhood has seen consistent affordable housing development over a 14-year period, with a focus on diverse unit types to accommodate various household sizes. While the area remains predominantly Black, recent years have shown increasing income levels and growing racial diversity, particularly with the rise in Hispanic residents. These demographic shifts, coupled with the extensive affordable housing stock, indicate a neighborhood in transition, balancing affordability with changing population dynamics.
