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Affordable Housing in St. Albans, Queens: LIHTC Project Impacts Diverse 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
St. Albans, a neighborhood in Queens, New York, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 67 total units, with 53 designated as low-income units. Based on the 2022 population of 61,691 and an estimated 23,636 housing units, the LIHTC funded affordable housing comprises approximately 0.28% of the neighborhood's estimated housing inventory.
The LIHTC program has invested $1,348,252 in tax credits for affordable housing in St. Albans. This equates to an average federal funding of $20,122 per unit. The neighborhood's LIHTC funded affordable housing project, St. Albans Cycle Of Life, was completed in 2018, marking the introduction of LIHTC presence in the area.
The St. Albans Cycle Of Life project offers a mix of unit types, with 33 one-bedroom and 34 two-bedroom units. This distribution indicates a focus on accommodating small families and individuals.
Over the past decade, St. Albans has experienced demographic shifts. The population has grown from 57,485 in 2015 to 61,691 in 2022, indicating a steady increase. Median income has fluctuated, rising from $81,581 in 2015 to $82,681 in 2022, with a peak of $95,580 in 2021.
Racial demographics have shown changes. The Black population, while still the majority, has decreased from 85% in 2015 to 77% in 2022. There have been small increases in Asian, Hispanic, and multi-racial populations. These shifts may indicate changing housing needs in the community.
The completion of the LIHTC project in 2018 aligns with a period of population growth and income fluctuation, suggesting a response to evolving housing needs in the neighborhood.
St. Albans' LIHTC funded affordable housing represents a recent addition to the neighborhood's housing stock. The single project, completed in 2018, provides a mix of one and two-bedroom units, catering to diverse household sizes. The demographic trends over the past decade, including population growth and slight shifts in racial composition, may have influenced the decision to introduce affordable housing options in the area. While the LIHTC funded units cover a small percentage of the estimated housing inventory, they contribute to addressing affordable housing needs in this Queens neighborhood.
