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Affordable Housing in Plum Orchard: LIHTC Investments 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
Plum Orchard, a neighborhood in New Orleans, Louisiana, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The neighborhood contains 147 affordable housing units, all designated as low-income units. Based on the 2022 population of 6,050 and the estimated 2,318 housing units, LIHTC-funded affordable housing comprises approximately 6.3% of the neighborhood's estimated housing inventory.
The LIHTC program has invested $81,757 in project tax credits for affordable housing in Plum Orchard. This equates to an average federal funding of about $556 per unit. The neighborhood has two LIHTC-funded projects: Haydel Heights Apartments, completed in 1995, and Le Parc (also known as Gentilly Ridge Apartments), completed in 1998. These projects indicate that affordable housing has been present in Plum Orchard for over 25 years.
The 1990s saw the most affordable housing development in Plum Orchard, with both projects completed during this decade. Le Parc is the larger of the two projects, offering 82 units, while Haydel Heights Apartments provides 65 units. The affordable housing inventory in Plum Orchard includes a diverse mix of unit types. There are 5 efficiencies, 19 one-bedroom units, 24 two-bedroom units, 2 three-bedroom units, and 4 four-bedroom units. This variety caters to different household sizes and needs within the low-income population.
Over the past decade, Plum Orchard has experienced significant demographic changes. The population has grown from 4,180 in 2018 to 6,050 in 2022, an increase of about 45%. During this same period, the median income rose from $21,694 in 2018 to $34,327 in 2022, representing a 58% increase.
The racial composition of Plum Orchard has remained predominantly Black, with a slight decrease from 96% in 2018 to 90% in 2022. There has been a notable increase in the Hispanic population, growing from 3% in 2018 to 8% in 2022.
Despite these demographic changes and income growth, no new LIHTC projects have been developed in Plum Orchard since 1998. This could be due to various factors, including changes in housing policy, shifts in funding priorities, or the possibility that other affordable housing programs may be addressing the neighborhood's needs.
Plum Orchard's LIHTC-funded affordable housing inventory, established in the 1990s, provides 147 low-income units across two projects. While this accounts for about 6.3% of the estimated housing inventory, it falls short of the target 15-20% for a well-balanced community. The neighborhood has experienced significant population growth and income increases over the past decade, along with some shifts in racial composition. Despite these changes, no new LIHTC projects have been developed since 1998, suggesting that other factors or programs may be influencing affordable housing development in the area.
