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Affordable Housing in The Greater Ville: A Three-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
The Greater Ville neighborhood in St. Louis, Missouri, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The neighborhood contains 273 total units in LIHTC-funded projects, including 243 low-income units. This represents approximately 14.9% of the estimated 1,833 housing units in the neighborhood, approaching the target percentage for a well-balanced community.
The LIHTC program has invested $1,353,000 in project tax credits for affordable housing in The Greater Ville. This equates to an average federal funding of $4,956 per unit. The neighborhood's affordable housing development spans over three decades, with the earliest LIHTC projects completed in 1988 and the most recent in 2019.
The 1990s witnessed the highest number of affordable housing project completions, including notable developments such as Penrose III, JMJ One of St. Louis, and Homeward Bound. The housing inventory comprises a diverse mix of unit types, with 50 one-bedroom, 108 two-bedroom, 96 three-bedroom, and 10 four-bedroom units, accommodating various family sizes and needs.
Two recent projects, North Sarah Phase III (2017) and St. Ferdinand Homes II (2019), specifically target individuals with disabilities, addressing the unique housing needs of this population.
The Greater Ville has experienced a population decline over the last decade, from 5,488 in 2015 to 4,784 in 2022. Despite this decrease, the median income has shown an upward trend, rising from $19,855 in 2015 to $26,507 in 2022. The neighborhood has maintained a predominantly Black population, consistently above 95% throughout this period.
The completion of targeted affordable housing projects in recent years, such as those for individuals with disabilities, may reflect efforts to address specific community needs despite the overall population decline.
The Greater Ville neighborhood demonstrates a significant commitment to affordable housing through its LIHTC-funded projects. With nearly 15% of its estimated housing inventory dedicated to affordable units, the neighborhood approaches the target for a well-balanced community. The diverse range of unit types and the focus on specialized housing for individuals with disabilities highlight efforts to meet varied community needs. While the population has decreased over the past decade, the rise in median income and the continued development of affordable housing projects suggest ongoing efforts to support and retain residents in the neighborhood.
