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Affordable Housing in Oakland's Coliseum Industrial: LIHTC Impact and Demographic Shifts
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 Coliseum Industrial neighborhood in Oakland, California, features Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area contains 110 units in LIHTC-funded projects, with 55 designated as low-income units. Based on the 2022 population of 9,601 and the national average household size, the estimated housing inventory for the neighborhood is approximately 3,679 units. LIHTC-funded affordable housing represents about 3% of this estimated housing inventory, indicating a modest contribution to the neighborhood's affordable housing needs.
The LIHTC program has invested in this neighborhood, with project tax credits totaling $1,031,325. This equates to an average federal funding of approximately $9,376 per unit in LIHTC-funded projects. The sole LIHTC project in the neighborhood, Coliseum Connections, was completed in 2019, marking the introduction of LIHTC-funded affordable housing in this area.
Coliseum Connections offers a mix of unit types, with 65 one-bedroom and 45 two-bedroom units. This distribution suggests a focus on accommodating small families and individuals. The project does not include efficiencies, three-bedroom, or four-bedroom units, which may indicate a specific housing strategy for the area's demographics.
Over the past decade, the Coliseum Industrial neighborhood has experienced demographic changes. The population has grown from 8,255 in 2015 to 9,601 in 2022, a 16.3% increase. This growth may have contributed to the need for additional affordable housing, leading to the development of Coliseum Connections.
Median income in the neighborhood has fluctuated, ranging from a low of $38,795 in 2018 to a high of $52,042 in 2021, before settling at $44,603 in 2022. This volatility in income levels could indicate ongoing economic challenges for residents, potentially increasing the demand for affordable housing options.
Racial demographics have remained relatively stable, with Hispanic residents consistently comprising the majority of the population (56% in 2022). There has been a decrease in the Black population (from 31% in 2015 to 24% in 2022) and a small increase in the Asian population (from 7% in 2015 to 8% in 2022). These demographic shifts may influence the types of affordable housing needed in the neighborhood.
The Coliseum Industrial neighborhood has seen the introduction of LIHTC-funded affordable housing in recent years, with Coliseum Connections providing 110 units, half of which are designated as low-income. This represents a small portion of the estimated housing inventory. The neighborhood's growing population, fluctuating median income, and stable racial composition highlight the ongoing importance of affordable housing initiatives in this area. The mix of one and two-bedroom units in the LIHTC project aligns with the neighborhood's demographic profile, potentially serving small families and individuals in need of affordable housing options.
