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Affordable Housing in Near Northeast Syracuse: LIHTC's Long-term Impact on Neighborhood Development
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 Near Northeast neighborhood of Syracuse, New York, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. With 263 units in LIHTC-funded projects, including 200 low-income units, this neighborhood demonstrates a commitment to providing affordable housing options. Based on the 2022 population of 9,307 and using the national average household size, there are approximately 3,566 housing units in the neighborhood. The LIHTC-funded affordable housing units represent about 7.4% of the estimated housing inventory, indicating a notable contribution to the neighborhood's affordable housing stock.
The LIHTC program has invested significantly in Near Northeast, with project tax credits totaling $2,274,412. This translates to an average federal funding of approximately $8,648 per unit in LIHTC-funded projects. The neighborhood has seen consistent development of affordable housing over several decades, with the earliest recorded project completed in 1995 and the most recent finished in 2017. This 22-year span demonstrates a long-term commitment to affordable housing in the area.
The 1990s saw the most activity in affordable housing development, with five projects completed during this decade. Notable projects from this period include Catherine Street Redevelopment, Housing Visions Group IV, and Syr-Hab Apts, all completed in 1996.
The LIHTC-funded projects in Near Northeast offer a diverse range of housing options. Out of the 263 total units, there are 6 efficiencies, 148 one-bedroom units, 71 two-bedroom units, 21 three-bedroom units, and 8 four-bedroom units. This variety caters to different household sizes and needs within the low-income population. One notable project, the Courtyard At James, completed in 2007, specifically targets individuals with AIDS/HIV. This specialized housing addresses the unique needs of a vulnerable population, potentially offering support services alongside affordable housing.
Over the past decade, the Near Northeast neighborhood has experienced some demographic shifts. The population has remained relatively stable, with a slight decrease from 9,692 in 2015 to 9,307 in 2022. However, the median income has increased significantly, rising from $23,667 in 2015 to $36,287 in 2022, representing a 53% increase. Racial demographics have also evolved. The white population has remained the largest group, fluctuating between 45-50% of the total population. The Black population has decreased slightly from 26% in 2015 to 25% in 2022, while the Hispanic population has increased from 9% to 12% during the same period. The Asian population has remained relatively stable at around 10-13%.
The most recent LIHTC project, Salina Crossing 1, was completed in 2017. Since then, the neighborhood has seen continued income growth and slight shifts in racial composition, which may influence future affordable housing needs and development decisions.
The Near Northeast neighborhood of Syracuse demonstrates a consistent commitment to affordable housing through LIHTC-funded projects. With 263 total units, including 200 low-income units, these projects contribute significantly to the neighborhood's housing inventory. The diverse unit types cater to various household sizes, and specialized projects like Courtyard At James address specific population needs. Over the past decade, the area has experienced income growth and slight demographic shifts, factors that may influence future affordable housing developments. The long-term presence of LIHTC projects, spanning from 1995 to 2017, underscores the ongoing effort to maintain affordable housing options in this evolving neighborhood.
