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Affordable Housing in Townsite: LIHTC's Impact on a Changing Henderson 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
Townsite, a neighborhood in Henderson, Nevada, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood contains 192 units in LIHTC-funded projects, with 145 designated as low-income units. As of 2022, the estimated housing inventory in Townsite is approximately 2,720 units, based on a population of 7,100 and the national average household size of 2.61 persons. LIHTC-funded affordable housing comprises about 7.1% of the estimated housing inventory in the neighborhood.
The LIHTC program has invested $2,269,767 in tax credits in Townsite. This equates to an average federal funding of $11,821 per unit in LIHTC-funded projects. Affordable housing development in Townsite occurred consistently from 1998 to 2007. The initial project, Henderson Manor Apts., was constructed in 1998, while the most recent developments, Pacific Pines II Apartments and Pacific Pines III Senior Apartments, were completed in 2007. This nine-year span indicates a sustained effort to increase affordable housing options in Townsite.
The 2000s were a particularly active period for affordable housing development in Townsite, with three out of four projects completed during this decade. The housing mix in LIHTC-funded projects includes 46 one-bedroom units and 146 two-bedroom units, addressing diverse household sizes and needs. Pacific Pines III Senior Apartments, completed in 2007, is specifically designed for senior residents, addressing the unique housing needs of the older population in Townsite.
Townsite has experienced significant demographic changes over the past decade. The population has increased from 6,173 in 2018 to 7,100 in 2022, indicating a growing demand for housing. Median income has also risen substantially, from $48,013 in 2018 to $59,531 in 2022, which may affect affordable housing needs.
Racial demographics in Townsite have shown notable shifts. The white population has remained relatively stable at approximately 57-60% since 2018. The Hispanic population has increased slightly from 23% to 27% between 2020 and 2022. The Asian population has also seen a small increase from 4% to 5% during the same period. These demographic changes may influence future affordable housing needs and strategies in Townsite.
Townsite's LIHTC-funded affordable housing inventory represents a significant portion of the neighborhood's estimated housing stock. The consistent development of affordable housing projects from 1998 to 2007 demonstrates a long-term commitment to addressing low-income housing needs. With an average federal investment of $11,821 per unit, these projects have contributed to the neighborhood's housing diversity. The focus on one-bedroom and two-bedroom units, along with specialized housing for seniors, reflects an effort to meet varied housing needs. As Townsite continues to experience population growth and demographic changes, ongoing assessment of affordable housing needs will be crucial to maintain a balanced and inclusive community.
