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Affordable Housing in La Verne's Foothill Boulevard Corridor: LIHTC Impact on Senior Living
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 Foothill Boulevard Corridor neighborhood in La Verne, California, contains a notable proportion of affordable housing funded through the Low-Income Housing Tax Credit (LIHTC) program. The neighborhood has 110 total units in LIHTC-funded projects, with 109 designated as low-income units. Based on the 2022 population of 9,125 and using the national average household size, the estimated number of housing units in the neighborhood is approximately 3,496. LIHTC-funded affordable housing represents about 3.1% of the estimated housing inventory in the neighborhood.
The LIHTC program has invested $777,557 in tax credits for affordable housing projects in this neighborhood. This equates to an average federal funding of approximately $7,069 per unit. The neighborhood's LIHTC-funded affordable housing inventory consists of one project, Vintage Grove Senior Apartments, which was completed in 1999. This project has provided affordable housing options in the neighborhood for over two decades.
The Vintage Grove Senior Apartments project offers a mix of unit types, with 92 one-bedroom units and 18 two-bedroom units. This distribution indicates a focus on accommodating smaller households, which aligns with the project's target population of seniors.
Over the past decade, the neighborhood's population has remained relatively stable, fluctuating between 9,000 and 9,600 residents. The median income has shown an overall increasing trend, rising from $75,354 in 2013 to $82,181 in 2022. This upward shift in median income may potentially impact the demand for affordable housing in the area.
Regarding racial demographics, the neighborhood has maintained a diverse composition. The Hispanic population has remained consistently around 36-38% of the total population, while the White population has slightly decreased from 49% in 2019 to 46% in 2022. The Asian population has seen a small decrease from 11% in 2020 to 8% in 2022. These demographic shifts, although subtle, may influence the ongoing need for affordable housing options in the neighborhood.
The Foothill Boulevard Corridor neighborhood in La Verne has a single LIHTC-funded affordable housing project, Vintage Grove Senior Apartments, which has been serving the community since 1999. This project provides 109 low-income units, primarily consisting of one-bedroom apartments, catering to the senior population. While the LIHTC-funded units represent a small percentage of the estimated housing inventory, they play a crucial role in providing affordable options for seniors in the area. The neighborhood's demographic trends, including a rising median income and slight shifts in racial composition, may continue to shape the demand for affordable housing in the future.
