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Affordable Housing in Saint Elmo: Examining LIHTC Impact on a Chattanooga Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Saint Elmo, a neighborhood in Chattanooga, Tennessee, has a population of 3,771 as of 2022. The area contains one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, which provides 47 low-income units. This project represents approximately 3.25% of the neighborhood's estimated 1,445 housing units.
The LIHTC program has invested $120,217 in tax credits for affordable housing in Saint Elmo, averaging $2,558 per unit in federal funding. Alexian Court Apartments, the sole LIHTC project in the neighborhood, was completed in 2003. This development has been part of the community for nearly two decades.
Alexian Court Apartments consists of 47 units, all designated as low-income. The project includes 2 efficiencies, 23 one-bedroom units, and 22 two-bedroom units, suggesting a focus on accommodating smaller households and families.
Saint Elmo's population has remained relatively stable over the past decade, fluctuating between 3,300 and 3,800 residents. The median income has varied, ranging from $34,974 in 2017 to $60,850 in 2021, with a 2022 figure of $51,044.
The neighborhood has maintained a predominantly white population, consistently accounting for about 74-78% of residents over the past decade. The Black population has decreased from 21% in 2013 to 12% in 2022, while the Hispanic population has grown from 2% to 5% during the same period. The Asian population and those identifying as two or more races have also seen small increases.
No new LIHTC projects have been developed in Saint Elmo since 2003, despite demographic shifts. This could be attributed to various factors, including changes in funding priorities, land availability, or shifts in housing needs within the broader Chattanooga area.
Saint Elmo's affordable housing landscape is characterized by the single LIHTC project, Alexian Court Apartments, which has served the community for nearly two decades. While this project provides 47 low-income units, it represents a relatively small portion of the neighborhood's estimated housing stock. The demographic trends over the past decade show a fairly stable population with some fluctuations in median income and gradual changes in racial composition. These factors, along with broader city and regional housing policies, likely influence the current state of affordable housing in Saint Elmo.
