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Affordable Housing in South Harlem: LIHTC's Impact on a Changing 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
South Harlem, a neighborhood in Manhattan, New York, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 4,799 total units, with 3,796 designated as low-income units. Based on the estimated 18,696 housing units in the neighborhood, the LIHTC-funded affordable housing covers approximately 25.7% of the neighborhood's housing inventory.
The LIHTC program has invested significantly in South Harlem, with project tax credits totaling $26,750,840. This translates to an average federal funding of about $5,574 per unit. The neighborhood has seen a long-term commitment to affordable housing, with projects spanning several decades.
The earliest recorded LIHTC project in South Harlem was completed in 1989, while the most recent projects were finished in 2018. This 29-year span demonstrates a sustained effort to provide affordable housing in the area. The 1990s saw a significant push in affordable housing development, with numerous projects completed during this decade, including "Morningside Apts," "Park North Assoc," and "Round V (Housing 2000)."
South Harlem's LIHTC-funded housing stock is diverse, catering to various household sizes. The inventory includes 395 efficiencies, 1,216 one-bedroom units, 1,522 two-bedroom units, 344 three-bedroom units, and 73 four-bedroom units. This distribution suggests a focus on accommodating small to medium-sized households.
One notable project is the "Harlem United 124th Street Residence," completed in 2007, which specifically targets individuals with AIDS/HIV. This project highlights the LIHTC program's ability to address specialized housing needs within the community.
Over the past decade, South Harlem has experienced some demographic shifts that correlate with its affordable housing landscape. The neighborhood's population has shown modest growth, increasing from 48,245 in 2015 to 48,796 in 2022. Concurrently, the median income has risen significantly, from $55,407 in 2015 to $71,420 in 2022, suggesting improving economic conditions for some residents.
Racial demographics have also evolved, with a gradual decrease in the Black population (from 53% in 2015 to 46% in 2022) and a slight increase in the White population (from 19% in 2015 to 24% in 2022). The Hispanic population has remained relatively stable at around 19-20%. These changes may reflect broader gentrification trends in the area, potentially increasing the need for affordable housing options to maintain community diversity.
South Harlem's LIHTC-funded affordable housing inventory plays a crucial role in the neighborhood's housing landscape, covering over a quarter of the estimated housing stock. The long-term investment in affordable housing, diverse unit types, and projects targeting specific populations demonstrate a comprehensive approach to addressing housing needs. As the neighborhood continues to experience demographic and economic changes, the presence of LIHTC-funded housing remains an important factor in maintaining affordable options for residents.
