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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Kalivas Union, a neighborhood in Manchester, New Hampshire, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory consists of 355 total units, with 310 specifically designated as low-income units. Based on the 2022 population of 6,971 and using the national average household size, the estimated housing inventory is approximately 2,671 units. The LIHTC funded affordable housing covers about 13.3% of the neighborhood's estimated housing stock, which is approaching the target percentage for a well-balanced community.
The LIHTC projects in Kalivas Union have received $385,000 in project tax credits, averaging about $1,084 per unit in federal funding. The neighborhood has a long history of affordable housing development, with the first LIHTC project, "241 Pine St," completed in 1988. The most recent project, "Renew I," was completed in 2016, indicating nearly three decades of affordable housing presence in the area.
The 1980s saw the most affordable housing activity, with five projects completed in 1988 and 1989, including "144-158 Lake Ave," "261 Pine Street," "293 Central St," and "543 Lincoln St." The 1990s continued this trend with projects like "Renaissance I (Cedar Beech)" in 1994 and "Merrimack Place" in 1995.
The LIHTC funded housing in Kalivas Union offers a diverse range of unit types. The inventory includes 29 one-bedroom units, 51 two-bedroom units, 93 three-bedroom units, and 5 four-bedroom units, catering to various household sizes and needs.
Over the past decade, Kalivas Union has experienced some demographic shifts. The population has remained relatively stable, with a slight increase from 6,730 in 2015 to 6,971 in 2022. Median income has fluctuated, peaking at $42,212 in 2019 but decreasing to $35,314 in 2022, which may indicate a growing need for affordable housing.
Racial demographics have also changed significantly. The white population decreased from 55% in 2015 to 41% in 2022, while the Hispanic population increased from 24% to 38% during the same period. This shift suggests a growing diversity in the neighborhood, which may influence future affordable housing needs and designs.
The most recent LIHTC project, "Renew I," was completed in 2016, coinciding with a period of relative economic stability in the neighborhood. However, the recent decline in median income might indicate a need for additional affordable housing initiatives.
Kalivas Union's LIHTC funded affordable housing inventory plays a crucial role in meeting the neighborhood's housing needs, covering about 13.3% of the estimated housing stock. The area has a long history of affordable housing development, spanning nearly three decades. The diverse unit mix caters to various household sizes, and the demographic shifts observed over the past decade, particularly in racial composition and median income, suggest an ongoing and potentially increasing need for affordable housing options in the neighborhood.