Loading Content...
Affordable Housing in South Winds: LIHTC-Funded Project for Veterans
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
South Winds, a neighborhood in Oxnard, California, features one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project, Ormond Beach Villas (also known as Vista Pacifica), provides 39 affordable housing units, all designated as low-income. The LIHTC-funded housing represents approximately 1.14% of the estimated 3,419 housing units in the neighborhood.
The Ormond Beach Villas project received $783,647 in tax credits from the LIHTC program, averaging about $20,093 per unit in federal funding. Completed in 2019, this project marked the introduction of LIHTC-funded affordable housing in South Winds. The development includes 15 one-bedroom units, 2 two-bedroom units, and 5 three-bedroom units, accommodating various household sizes.
Notably, Ormond Beach Villas specifically targets veterans as its population. This focus indicates a recognition of the unique housing needs of veterans, potentially including tailored accessibility features, support services, or community spaces.
South Winds has experienced demographic changes over the past decade. The population peaked at 11,301 residents in 2017 but decreased to 8,923 by 2022. This population decline may influence the demand for affordable housing in the area.
The neighborhood's median income has fluctuated, decreasing from $60,238 in 2015 to $45,677 in 2022. This decline in median income could indicate an increased need for affordable housing options.
Racially, South Winds has seen a significant increase in the Hispanic population, rising from 80% in 2013 to 91% in 2022. This demographic shift may influence the types of community services and cultural considerations in future affordable housing developments.
The South Winds neighborhood's single LIHTC-funded affordable housing project, Ormond Beach Villas, represents a recent addition to the area's housing options. While the LIHTC-funded affordable housing stock is relatively small compared to the overall housing inventory, it addresses a specific need by targeting veterans. The declining population and median income, coupled with the changing racial composition, suggest ongoing demographic changes that may influence future affordable housing needs and development in the neighborhood.
