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Affordable Housing in Mar Lee: LIHTC's Impact on Denver 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
Mar Lee, a neighborhood in Denver, Colorado, has a specific affordable housing profile. The Low-Income Housing Tax Credit (LIHTC) program has funded 6 affordable housing units in this area, all of which are designated as low-income units. Based on the 2022 population of 13,455 and using the national average household size, there are approximately 5,155 housing units in Mar Lee. The LIHTC-funded affordable housing represents about 0.12% of the estimated housing inventory in the neighborhood.
The LIHTC program has invested in Mar Lee, with project tax credits totaling $12,356,915. This equates to an average federal funding of $2,059,486 per unit, indicating a significant allocation for creating affordable housing in the area.
The neighborhood's LIHTC-funded affordable housing consists of a single project, Sanderson Apartments, completed in 2017. This development marks the introduction of LIHTC in Mar Lee, providing 6 one-bedroom units to address the community's affordable housing needs.
Over the past decade, Mar Lee has experienced demographic changes that may relate to its affordable housing landscape. The population has increased from 12,568 in 2010 to 13,455 in 2022. This growth may have contributed to the need for affordable housing options like Sanderson Apartments.
Median income in Mar Lee has shown an overall upward trend, rising from $49,478 in 2013 to $54,980 in 2022, with fluctuations in between. This increase in median income may suggest a changing economic landscape in the neighborhood, potentially influencing the demand for affordable housing.
Racial demographics in Mar Lee have also evolved. The Hispanic population, while still the majority, has decreased from 71% in 2013 to 65% in 2022. The Asian population has remained relatively stable, while the White population has increased from 22% to 25% over the same period. These demographic shifts may impact the community's housing needs and the types of affordable housing projects developed.
Mar Lee's affordable housing landscape is characterized by a single LIHTC-funded project, Sanderson Apartments, which provides 6 one-bedroom units. This represents a small portion of the neighborhood's estimated housing inventory but marks a step in addressing affordable housing needs. The substantial investment per unit suggests a commitment to quality affordable housing. As Mar Lee continues to experience demographic changes, including population growth and shifts in racial composition, the need for affordable housing may evolve, potentially influencing future LIHTC developments in the area.
