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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Northeast Park Hill, a neighborhood in Denver, Colorado, has a significant presence of affordable housing funded through the Low-Income Housing Tax Credit (LIHTC) program. The neighborhood's LIHTC-funded inventory consists of 201 total units, with 165 designated as low-income units. Based on the 2022 population of 9,006 and an estimated 3,451 housing units, the LIHTC-funded affordable housing covers approximately 5.8% of the neighborhood's estimated housing inventory.
The LIHTC projects in Northeast Park Hill have received $673,526 in tax credits, averaging about $3,351 per unit across all LIHTC-funded projects. This investment demonstrates a substantial commitment to affordable housing in the area.
Affordable housing has been a part of Northeast Park Hill for over a decade, with the first LIHTC project, Liggins Tower, completed in 2008, and the most recent, Dahlia Square Senior Apartments II, finished in 2014. The 2010s saw the most activity in LIHTC-funded housing development, with two projects completed during this decade.
The LIHTC-funded housing stock in Northeast Park Hill is diverse, offering a mix of unit types. The inventory includes 8 efficiencies, 157 one-bedroom units, and 36 two-bedroom units. This distribution suggests a focus on accommodating smaller households and potentially senior residents.
Over the past decade, Northeast Park Hill has experienced notable demographic shifts. The population has grown from 8,330 in 2013 to 9,006 in 2022, an increase of about 8%. During this period, the median income rose from $42,864 in 2013 to $59,609 in 2022, representing a 39% increase.
Racial demographics have also evolved. The Black population percentage decreased from 49% in 2013 to 33% in 2022, while the Hispanic population increased from 26% to 33%. The White population grew from 17% to 26% during this period.
The completion of LIHTC projects in 2011 and 2014 aligns with a period of population growth and the beginning of income increases in the neighborhood. This suggests that the affordable housing developments may have been responding to growing housing needs in the area.
Northeast Park Hill's LIHTC-funded affordable housing inventory represents a notable portion of the neighborhood's estimated housing stock. The area has seen consistent investment in affordable housing over the years, with projects completed from 2008 to 2014. The housing mix, predominantly one-bedroom units, appears to cater to smaller households.
Demographic trends show population growth, significant income increases, and shifts in racial composition over the past decade. These changes coincided with the development of LIHTC projects, potentially reflecting efforts to maintain affordable housing options in a changing neighborhood landscape. The analysis reveals a complex interplay between affordable housing development and demographic shifts in Northeast Park Hill.