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Affordable Housing in Mantua: LIHTC's Long-term Impact on a Changing Philadelphia Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Mantua, a neighborhood in Philadelphia, Pennsylvania, has a significant history of affordable housing initiatives. The Low-Income Housing Tax Credit (LIHTC) program has funded 271 total units in the area, with 190 designated as low-income units. As of 2022, Mantua had a population of 7,910 and an estimated 3,031 housing units. The LIHTC-funded affordable housing represents approximately 8.9% of the neighborhood's estimated housing inventory.
The LIHTC program has made substantial investments in Mantua, with project tax credits totaling $4,814,504. This equates to an average federal funding of about $17,766 per unit in LIHTC-funded projects. The neighborhood's commitment to affordable housing spans nearly three decades, with the earliest LIHTC project, "635 N 35Th St," completed in 1988, and the most recent known completion, "Mount Vernon Manor Ii," in 2016.
The 1990s were particularly active for affordable housing development in Mantua, with projects such as "Cloisters" (1992), "Cloisters I" (1993), and "Aspen-Olive Residence" (1997) being completed. The LIHTC-funded projects offer a diverse housing stock, comprising 15 efficiencies, 99 one-bedroom units, 80 two-bedroom units, 61 three-bedroom units, and 14 four-bedroom units. This variety accommodates different household sizes and needs within the community.
Mantua has experienced significant demographic changes over the past decade. The population increased from 6,339 in 2013 to 7,910 in 2022, indicating a growing demand for housing. Median income rose from $17,371 in 2013 to $29,146 in 2022, suggesting improved economic conditions for residents. However, this increase may also indicate a growing need for affordable housing options as the cost of living potentially rises.
Racial demographics in Mantua have remained relatively stable. The Black population decreased slightly from 82% in 2013 to 70% in 2022, while Asian, Hispanic, and multi-racial populations saw modest increases. This diversity highlights the importance of maintaining affordable housing options to support a mixed-income community.
The absence of new LIHTC projects since 2016 could be attributed to various factors, including changes in funding priorities, market conditions, or potential saturation of affordable housing in the area. However, the continued population growth and income changes suggest an ongoing need for affordable housing options.
Mantua's LIHTC-funded affordable housing inventory represents a significant portion of the neighborhood's housing stock, covering nearly 9% of estimated units. The long-term investment in affordable housing, spanning from 1988 to 2016, demonstrates a sustained commitment to addressing housing needs. The diverse unit mix caters to various household sizes, supporting a range of residents. While demographic trends show population growth and rising incomes, they also suggest potential increased housing costs, underscoring the ongoing importance of affordable housing initiatives in maintaining a diverse and inclusive community in Mantua.
