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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Trestle Glen, a neighborhood in Oakland, California, demonstrates a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 346 total units, with 345 designated as low-income units. This substantial number of affordable housing units addresses crucial community housing needs.
The LIHTC funded affordable housing represents approximately 24.7% of the total housing stock, based on an estimated housing inventory of 1,401 units for the neighborhood. This percentage exceeds the target range of 15-20% for affordable housing in a well-balanced community, indicating Trestle Glen's significant progress in providing affordable housing options through the LIHTC program.
The LIHTC project in Trestle Glen received $2,064,643 in tax credits, equating to an average federal funding of approximately $5,967 per unit when divided by the total number of units (346). This investment demonstrates a substantial commitment to creating affordable housing in the neighborhood.
The neighborhood's LIHTC funded project, Satellite First Communities, was completed in 2012. This project has been providing affordable housing options to the community for over a decade, contributing to the neighborhood's housing diversity and accessibility. The Satellite First Communities project consists of 346 total units, with a composition of 269 efficiencies and 77 one-bedroom units, catering to individuals and small households in need of affordable housing options.
Trestle Glen has experienced demographic shifts over the past decade that may correlate with the presence of LIHTC funded housing. The population has remained relatively stable, increasing slightly from 3,464 in 2012 to 3,657 in 2022. The median income has grown significantly, rising from $148,103 in 2013 to $162,564 in 2022, potentially indicating an overall improvement in the neighborhood's economic conditions.
Racial distribution trends show changes over the past decade. The white population has remained the majority, decreasing slightly from 66% in 2013 to 65% in 2022. The Asian population has increased slightly from 11% to 12%, while the Black population has decreased from 9% to 7%. The Hispanic population has grown from 7% to 9%. These shifts suggest a gradual diversification of the neighborhood's racial composition.
Trestle Glen's LIHTC funded affordable housing inventory significantly contributes to the neighborhood's housing diversity, with 346 units representing about 24.7% of the estimated housing stock. The Satellite First Communities project, completed in 2012, has been a cornerstone of affordable housing in the area for over a decade. The project's focus on efficiencies and one-bedroom units addresses the needs of smaller households. While the neighborhood has experienced economic growth and slight demographic shifts over the past decade, the presence of LIHTC funded housing continues to play a crucial role in maintaining housing affordability and accessibility in Trestle Glen.