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Affordable Housing in South Wedge: LIHTC's Impact on a Changing Rochester 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
The South Wedge neighborhood in Rochester, New York, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. With 795 total units in LIHTC funded projects, including 637 designated low-income units, this neighborhood demonstrates a substantial commitment to affordable housing. Based on the 2022 population of 3,642 and an estimated 1,395 housing units, the LIHTC funded affordable housing covers approximately 57% of the neighborhood's estimated housing inventory, indicating a robust presence of affordable housing options.
The LIHTC program has invested $1,084,907 in tax credits for affordable housing projects in the South Wedge neighborhood. This translates to an average federal funding of approximately $1,365 per unit across all LIHTC funded projects. The neighborhood's affordable housing history spans nearly two decades, with the earliest recorded project, Al Sigl Independent Living Center, completed in 1997, and the most recent, Wedgepoint Apartments, finished in 2016.
The 2010s saw the most activity in affordable housing development, with notable projects like Erie Harbor (2011) and Wedgepoint Apartments (2016) being completed. The LIHTC funded housing inventory in South Wedge is diverse, comprising 61 efficiencies, 398 one-bedroom units, 221 two-bedroom units, 90 three-bedroom units, and 25 four-bedroom units. This variety caters to different household sizes and needs within the community.
Over the past decade, the South Wedge neighborhood has experienced some demographic shifts. The population has shown an overall increase, growing from 3,209 in 2015 to 3,642 in 2022. Concurrently, the median income has risen significantly, from $29,494 in 2015 to $48,894 in 2022, representing a 65.8% increase.
Racial distribution in the neighborhood has remained relatively stable, with the white population consistently representing the majority (65% in 2022). The Black population has slightly decreased from 23% in 2015 to 19% in 2022, while the Hispanic population has seen a minor decrease from 12% to 9% during the same period. The Asian population has remained steady at around 3-4%.
The completion of LIHTC projects like Erie Harbor in 2011 and Wedgepoint Apartments in 2016 aligns with periods of population growth and increasing median income. This suggests that affordable housing development has been responsive to the neighborhood's changing demographics and economic conditions.
The South Wedge neighborhood in Rochester demonstrates a significant commitment to affordable housing through its LIHTC funded projects. With 795 total units, including 637 low-income units, these projects cover a substantial portion of the estimated housing inventory. The neighborhood has seen consistent affordable housing development over nearly two decades, with the most recent project completed in 2016. The diverse unit mix caters to various household sizes, while the demographic trends show a growing population and rising median income. This analysis highlights the important role LIHTC funded housing plays in maintaining affordability in a changing urban landscape.
