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Affordable Housing in Strawberry Mansion: A Two-Decade LIHTC Investment
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Strawberry Mansion, a neighborhood in Philadelphia, Pennsylvania, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory consists of 448 total units, with 420 designated as low-income units. Based on the 2022 population of 16,340 and using the national average household size of 2.61, the estimated housing inventory is approximately 6,261 units. The LIHTC funded affordable housing covers about 7.2% of the neighborhood's estimated housing units, indicating a substantial contribution to the area's affordable housing needs.
The LIHTC program has invested significantly in Strawberry Mansion, with project tax credits totaling $5,478,347. This translates to an average federal funding of about $12,228 per unit in LIHTC funded projects. The neighborhood has seen a long-term commitment to affordable housing, with projects spanning several decades. The earliest recorded LIHTC projects, Sartain Apts and W Diamond Street, were completed in 1990. The most recent project, Mpb School Apartments, was completed in 2013, demonstrating over two decades of continuous affordable housing development.
The 1990s saw the highest concentration of LIHTC project completions, with multiple projects finished in 1990, 1993, and 1996. Notable projects from this period include Diamond Apts Phase II (1991), Sedgley Park Apts (1993), and Mansion Court Phase II (1996). The LIHTC funded housing in Strawberry Mansion offers a diverse range of unit types. Out of the 448 total units, there are 36 efficiencies, 193 one-bedroom units, 168 two-bedroom units, 38 three-bedroom units, and 2 four-bedroom units. This distribution suggests a focus on accommodating various household sizes, with a particular emphasis on smaller households.
Over the last decade, Strawberry Mansion has experienced some demographic shifts. The population decreased from 17,060 in 2015 to 16,340 in 2022, a decline of about 4.2%. However, the median income has shown a positive trend, increasing from $18,699 in 2015 to $26,307 in 2022, representing a 40.7% increase. The racial composition of the neighborhood has remained relatively stable, with a predominant Black population. In 2015, 93% of residents identified as Black, and by 2022, this percentage had slightly decreased to 89%. There has been a small increase in diversity, with slight increases in the Hispanic, White, and multi-racial populations.
The lack of new LIHTC projects since 2013 could be related to the rising median income in the area, potentially reducing the perceived need for additional low-income housing. However, the median income, despite its increase, is still relatively low compared to national averages, suggesting an ongoing need for affordable housing options.
Strawberry Mansion's LIHTC funded affordable housing inventory plays a significant role in the neighborhood, covering about 7.2% of the estimated housing units. The area has benefited from over two decades of LIHTC investments, with projects offering a range of unit sizes to accommodate diverse household needs. While the population has slightly decreased in recent years, the median income has shown notable growth. Despite this growth, the continued low median income levels suggest an ongoing need for affordable housing options in the neighborhood. The LIHTC program has been instrumental in providing these options, contributing to the neighborhood's housing diversity and accessibility.
