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Affordable Housing in Northeast Flatbush: LIHTC Impact on Brooklyn 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
Northeast Flatbush, a neighborhood in Brooklyn, New York, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area hosts 472 total units in LIHTC funded projects, with 469 of these designated as low-income units. Based on the 2022 population of 123,935 and an estimated 47,485 housing units, the LIHTC funded affordable housing covers approximately 1% of the neighborhood's estimated housing inventory.
The LIHTC program has invested substantially in Northeast Flatbush, with project tax credits totaling $45,560,955. This translates to an average federal funding of about $96,528 per unit in LIHTC funded projects. The neighborhood has seen a steady development of affordable housing over time, with the first recorded LIHTC project, East NY Cluster, completed in 2001, and the most recent, CAMBA Gardens II, finished in 2016. This 15-year span demonstrates a sustained commitment to affordable housing in the area.
The 2010s were particularly active for LIHTC developments in Northeast Flatbush, with three projects completed during this decade: Concern Heights Apts (2012), CAMBA (2013), and CAMBA Gardens II (2016). These projects likely responded to evolving housing needs in the community.
The LIHTC funded housing stock in Northeast Flatbush is diverse, catering to various household sizes. It includes 175 efficiencies, 200 one-bedroom units, 63 two-bedroom units, and 28 three-bedroom units. This distribution suggests a focus on accommodating smaller households and individuals, which aligns with urban housing trends.
Over the past decade, Northeast Flatbush has experienced some demographic shifts. The population has remained relatively stable, with a slight decrease from 124,760 in 2010 to 123,935 in 2022. Median income has shown fluctuations, rising from $63,307 in 2013 to $70,149 in 2021, before decreasing to $62,435 in 2022.
Racial demographics have also evolved. The Black population, while still the majority, has decreased from 86% in 2013 to 77% in 2022. Conversely, there has been a slight increase in Asian, Hispanic, and White populations, as well as those identifying as two or more races. This gradual diversification may influence future affordable housing needs and strategies.
The completion of LIHTC projects in the early to mid-2010s coincides with a period of relative income stability in the neighborhood, suggesting these developments were timely responses to local housing needs.
Northeast Flatbush's LIHTC funded affordable housing inventory represents a small but significant portion of its housing stock. The consistent development of LIHTC projects over a 15-year period demonstrates ongoing efforts to address affordable housing needs. The substantial federal investment, diverse unit types, and alignment with demographic trends indicate a thoughtful approach to affordable housing in this Brooklyn neighborhood. As the area continues to evolve demographically, ongoing assessment of housing needs will be crucial to ensure that future affordable housing initiatives remain responsive to community requirements.
