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Affordable Housing in Marina District: LIHTC Project Exceeds Community Targets
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 Marina District in Des Moines, Washington, contains one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project provides 119 affordable units, all designated as low-income units. The neighborhood's estimated total housing inventory is 418 units, based on the 2022 population of 1,091 and the national average household size of 2.61.
The LIHTC-funded affordable housing units represent approximately 28.5% of the estimated housing inventory in the Marina District. This percentage exceeds the target range of 15-20% for affordable housing stock in a balanced community. The single LIHTC project in the area, The Adriana Senior Apartments, was completed in 2018.
The Adriana Senior Apartments received $685,595 in tax credits, equating to an average federal funding of $5,761 per unit. The project consists of 73 one-bedroom units and 46 two-bedroom units, offering a variety of housing options for residents. Although the project name suggests a focus on senior housing, no specific target population is listed in the available data.
Demographic trends in the Marina District over the past decade reveal relatively stable population figures, ranging between 988 and 1,151 residents. The median income has shown an overall increase from $55,610 in 2013 to $70,420 in 2022, with some fluctuations during this period.
The racial distribution in the neighborhood has remained predominantly white, with percentages ranging from 74% to 81% over the past decade. There has been a slight increase in diversity, with minor growth in Asian, Black, and Hispanic populations. The completion of The Adriana Senior Apartments in 2018 coincides with a period of relative stability in the neighborhood's demographics.
The Marina District's LIHTC-funded affordable housing inventory, represented by The Adriana Senior Apartments, significantly contributes to the neighborhood's housing stock. At 28.5% of the estimated housing inventory, it surpasses typical affordable housing targets. The project's completion in 2018 provides housing options for lower-income residents in an area experiencing rising income levels. This affordable housing development plays a crucial role in maintaining housing accessibility within the changing demographic landscape of the Marina District.
