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Affordable Housing in JeffVanderLou: A Long-term Commitment to LIHTC Funding
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 JeffVanderLou neighborhood in St. Louis, Missouri, demonstrates a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood contains 337 units in LIHTC funded projects, with 256 designated as low-income units. Based on the 2022 population of 5,275 and utilizing the national average household size, the estimated housing inventory for the neighborhood is approximately 2,021 units. The LIHTC funded affordable housing comprises about 16.7% of the estimated housing inventory, aligning with the target percentage for a balanced community.
The LIHTC program has invested substantially in JeffVanderLou, with project tax credits totaling $565,301. This equates to an average federal funding of about $1,677 per unit in LIHTC funded projects. The neighborhood has experienced consistent development of affordable housing over several decades. The initial LIHTC project, "3718-20 Maffit," was completed in 1989, while the most recent projects, "Blumeyer Assoc IIb" and "JVL 16," were completed in 2007. This 18-year span indicates a long-term commitment to affordable housing in the area.
The 1990s witnessed the most affordable housing development activity, with projects such as "North Market Apts" (1996), "Lindell Park Development" and "Lindell Park Apartments" (both in 1997), and "Village Of Grand Oaks" (1999) being completed. The early 2000s also saw continued development with "JVL Renaissance I" (2001) and "JVL Renaissance II" (2003).
The LIHTC funded projects in JeffVanderLou offer a diverse range of unit types. The neighborhood has 34 one-bedroom units, 69 two-bedroom units, 159 three-bedroom units, and 62 four-bedroom units. This distribution suggests a focus on accommodating families of various sizes, with a particular emphasis on larger households.
Over the past decade, JeffVanderLou has experienced demographic shifts. The population has fluctuated, decreasing from 5,957 in 2014 to 5,275 in 2022. Despite this population decline, the median income has shown a positive trend, increasing from $16,978 in 2014 to $30,592 in 2022. This income growth could potentially impact the demand for affordable housing in the future.
The racial composition of the neighborhood has remained predominantly Black, though there has been a slight decrease from 97% in 2014 to 91% in 2022. Concurrently, there has been a small increase in the White population from 1% to 5% and the Hispanic population from 1% to 2% during the same period.
No new LIHTC projects have been completed in JeffVanderLou since 2007. This could be due to various factors, including changes in funding priorities, market conditions, or potentially reduced need for additional affordable housing units given the population decline.
JeffVanderLou's LIHTC funded affordable housing inventory represents a significant portion of its estimated housing stock, aligning with recommended targets for balanced communities. The neighborhood has benefited from consistent affordable housing development over nearly two decades, with a diverse range of unit types catering to different household sizes. While the population has decreased in recent years, rising median incomes and slight shifts in racial composition suggest ongoing demographic changes. These trends, coupled with the existing affordable housing stock, will likely influence future affordable housing needs and development in the neighborhood.
