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Affordable Housing in Radisson: LIHTC's Impact on a Suburban New York Community
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Radisson, a city in New York state, has a population of 8,090 as of 2022. The city contains 132 units in Low-Income Housing Tax Credit (LIHTC) funded affordable housing projects, with 24 units designated as low-income. These LIHTC-funded units represent approximately 4.3% of the city's estimated 3,100 housing units.
Radisson has received $3,277,550 in project tax credits through the LIHTC program. This funding is distributed across approximately 4 projects, resulting in an average of $819,388 per project. The average federal funding per unit is $24,830. Radisson's LIHTC funding accounts for 0.16% of the total state LIHTC funding for New York.
The city's affordable housing development occurred between 2008 and 2015. The first project, Riverknoll At Radison, was initiated in 2008, while the most recent project, Riverknoll At Radisson III, was completed in 2015. The 2010s marked the period of most significant affordable housing development activity in Radisson.
The LIHTC-funded projects in Radisson include a variety of unit types: 56 one-bedroom units, 60 two-bedroom units, and 16 three-bedroom units. This distribution indicates a focus on accommodating small to medium-sized households.
Radisson's population has grown modestly over the past decade, increasing from 7,197 in 2010 to 8,090 in 2022. The median income has also risen, from $99,116 in 2013 to $102,691 in 2022. This increase in median income may indicate a growing need for affordable housing options to maintain economic diversity in the community.
The racial composition of Radisson has remained predominantly white, with the white population consistently comprising over 90% of residents throughout the 2010s. There has been a slight increase in diversity, with small but steady percentages of Black, Hispanic, and Asian residents.
Radisson's LIHTC-funded affordable housing represents a small portion of the city's estimated housing inventory. The city experienced consistent investment in affordable housing projects from 2008 to 2015, primarily focusing on one and two-bedroom units. While the population and median income have increased over the past decade, the racial composition has remained relatively stable. These demographic trends, combined with the LIHTC investments, suggest an ongoing effort to maintain affordable housing options in a growing community.
