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Affordable Housing in Philadelphia's Hartranft Neighborhood: LIHTC's Impact on Community 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
Hartranft, a neighborhood in Philadelphia, Pennsylvania, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood contains 803 units in LIHTC funded projects, with 641 designated as low-income units. Based on the 2022 population of 19,998 and using the national average household size, the estimated housing inventory for Hartranft is approximately 7,662 units. LIHTC funded affordable housing comprises about 10.5% of the neighborhood's estimated housing inventory, contributing significantly to the community's affordable housing needs.
The LIHTC program has invested substantially in Hartranft, with project tax credits totaling $10,047,396. This equates to an average federal funding of approximately $12,512 per unit in LIHTC funded projects. The neighborhood has experienced consistent development of affordable housing over the years, with the earliest recorded LIHTC project, One APM Plaza, completed in 1991, and the most recent, Edison 64 Veterans Community, finished in 2019. This nearly three-decade span demonstrates a long-term commitment to affordable housing in the area.
The 1990s saw the most affordable housing projects completed, with notable developments including Jardines De Borinquen (1994), Proyecto Escalera (1995), and Station House Apts (1997). The distribution of unit types in LIHTC funded projects is diverse, with 260 efficiencies, 127 one-bedroom units, 137 two-bedroom units, 148 three-bedroom units, and 51 four-bedroom units, catering to various household sizes and needs.
One project of particular interest is the Edison 64 Veterans Community, completed in 2019, which specifically targets veterans. This development addresses the unique housing needs of former service members, potentially offering supportive services alongside affordable housing.
Over the last decade, Hartranft has experienced demographic shifts that correlate with its affordable housing development. The neighborhood's population has grown from 19,238 in 2015 to 19,998 in 2022, indicating a steady demand for housing. Median income has fluctuated but showed an overall increase from $20,234 in 2015 to $23,211 in 2022, suggesting a gradual economic improvement while still indicating a need for affordable housing options.
Racial demographics have remained relatively stable, with the Black population consistently representing about half of the neighborhood's residents (49% in 2022). The Hispanic population has slightly decreased from 35% in 2016 to 32% in 2022, while the Asian population has modestly increased from 3% to 4% during the same period. This diverse demographic composition underscores the importance of maintaining a varied affordable housing stock to meet the needs of different community groups.
Hartranft's LIHTC funded affordable housing inventory plays a crucial role in meeting the neighborhood's housing needs, covering about 10.5% of the estimated housing stock. With a substantial federal investment and a diverse range of unit types, the LIHTC program has contributed significantly to the area's housing landscape over nearly three decades. The neighborhood's demographic trends, including population growth and income changes, align with the continued development of affordable housing projects. The presence of targeted housing for veterans also demonstrates an effort to address specific community needs. As Hartranft continues to evolve, its LIHTC funded affordable housing remains an integral part of its community fabric, supporting its diverse population and contributing to housing stability in the area.
