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Affordable Housing in Madison's Schenk-Atwood Neighborhood: A Case Study of the Carbon Project
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Schenk-Atwood-Starkweather-Yahar neighborhood in Madison, Wisconsin, features one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project, Carbon, provides 72 units, with 28 designated as low-income units. As of 2022, the neighborhood's population was 2,262, with an estimated 867 housing units. The LIHTC-funded affordable housing accounts for approximately 8.3% of the neighborhood's estimated housing inventory.
The Carbon project received $850,000 in LIHTC funding, averaging about $11,806 per unit in federal funding. Completed in 2017, it marked the introduction of LIHTC-funded affordable housing in the neighborhood. The project offers a mix of unit types: 54 two-bedroom units, 16 three-bedroom units, and 2 one-bedroom units, accommodating various household sizes.
The neighborhood has experienced demographic changes over the past decade. The population increased from 1,925 in 2013 to 2,262 in 2022. Median income rose from $53,478 in 2013 to $68,648 in 2022, with fluctuations in between. The racial distribution remained predominantly white, increasing from 87% in 2013 to 91% in 2022. The Black population peaked at 11% in 2017 before decreasing to 2% by 2022. The Hispanic population remained between 1-4% throughout the decade.
The introduction of the LIHTC project in 2017 coincided with the peak in racial diversity in the neighborhood. This timing may indicate an effort to provide affordable housing options during a period of increased demographic diversity.
The Schenk-Atwood-Starkweather-Yahar neighborhood's single LIHTC-funded affordable housing project, Carbon, contributes 72 units to the area's housing inventory. Completed in 2017, it represents a significant investment in affordable housing for the neighborhood. The LIHTC-funded units cover a modest portion of the estimated housing inventory, providing important housing options for low-income residents. The neighborhood has experienced population growth and income increases over the past decade, along with fluctuations in racial diversity. The completion of the LIHTC project aligns with a period of peak diversity in the area, potentially reflecting efforts to maintain housing affordability amidst changing demographics.
