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Affordable Housing in Sugaw Creek-Ritch Ave: A Decade of Demographic Change
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 Sugaw Creek-Ritch Ave neighborhood in Charlotte, North Carolina, contains 106 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. These units comprise approximately 6.2% of the neighborhood's estimated 1,697 housing units, based on the 2022 population of 4,429. The LIHTC program has invested $661,031 in tax credits for affordable housing projects in this area, averaging $6,236 per unit.
The neighborhood's LIHTC funded affordable housing dates back to the early 2000s. The first project, The Village Of Rosedale Apts At Sugar Creek, was completed in 2002, followed by Rosedale Ii/Hope Haven in 2004. This indicates that affordable housing has been present in the neighborhood for nearly two decades. The 2000s were the most active period for LIHTC funded affordable housing development in Sugaw Creek-Ritch Ave.
The affordable housing inventory in this neighborhood consists of 2 one-bedroom units, 64 two-bedroom units, and 40 three-bedroom units, offering housing options for various family sizes. Over the past decade, the neighborhood has experienced significant demographic changes. The population increased from 3,555 in 2013 to 4,429 in 2022, a growth of 24.6%. Concurrently, the median income rose from $24,308 in 2013 to $31,774 in 2022, an increase of 30.7%.
The racial composition of Sugaw Creek-Ritch Ave has remained relatively stable. In 2022, the population was predominantly Black (55%) with a significant Hispanic presence (33%). The White population has consistently represented around 11% of the total in recent years.
It is notable that no new LIHTC projects have been developed in the neighborhood over the past decade. This could be attributed to various factors, including changes in funding priorities, zoning regulations, or shifts in local housing needs.
In summary, the Sugaw Creek-Ritch Ave neighborhood has a modest LIHTC funded affordable housing inventory, representing about 6.2% of the estimated housing units. The two LIHTC projects, both completed in the early 2000s, provide 106 low-income units with a range of bedroom options. While the neighborhood has experienced population growth and an increase in median income over the past decade, there has been no new LIHTC development during this period. The racial composition has remained relatively stable, with a predominantly Black and Hispanic population. These demographic trends and the existing affordable housing stock provide insights into the neighborhood's housing landscape and potential future needs.
