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Affordable Housing in Oakland-Winchell: LIHTC's Impact on Neighborhood Demographics
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Oakland-Winchell neighborhood in Kalamazoo, Michigan, has 167 affordable housing units funded through the Low-Income Housing Tax Credit (LIHTC) program. These units constitute approximately 7.6% of the neighborhood's estimated 2,193 housing units. The LIHTC program has invested $458,870 in tax credits for affordable housing in Oakland-Winchell, averaging $2,748 per unit.
The Stadium Drive project, completed in 2013, represents the sole LIHTC-funded development in the area. It comprises all 167 affordable units, distributed as 45 one-bedroom, 85 two-bedroom, and 37 three-bedroom units. This variety accommodates different household sizes, from individuals to small families.
Oakland-Winchell's population has increased from 5,266 in 2010 to 5,725 in 2022. The median income in 2022 was $61,462, down from $69,878 in 2021. Racial demographics have shifted, with the white population decreasing from 79% in 2013 to 70% in 2022, while the Black population increased from 11% to 19%. The proportion of residents identifying as two or more races grew from 5% to 8%.
The introduction of the LIHTC project in 2013 coincides with these demographic changes, potentially addressing the evolving housing needs of a more diverse population. The steady population growth and fluctuations in median income suggest an ongoing need for affordable housing options in the neighborhood.
The Oakland-Winchell neighborhood has made progress in providing affordable housing through the LIHTC program, with 167 units dedicated to low-income residents. This represents a significant contribution to the neighborhood's affordable housing stock. The Stadium Drive project, completed in 2013, marks an important milestone in the area's affordable housing development.
The demographic trends over the past decade, including population growth, income fluctuations, and increasing racial diversity, underscore the importance of maintaining and potentially expanding affordable housing options in Oakland-Winchell. The LIHTC program has played a crucial role in addressing these evolving housing needs, providing a foundation for a more inclusive and accessible neighborhood.
