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Affordable Housing in Tuscaloosa: LIHTC's Impact on University City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Tuscaloosa, Alabama, home to the University of Alabama, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city's LIHTC-funded housing comprises 1,345 total units, with 1,015 designated as low-income units. This inventory represents approximately 3.17% of the city's estimated 42,375 housing units, indicating a contribution to affordable housing while suggesting potential for further initiatives.
Tuscaloosa has received $5,958,431 in project tax credits through the LIHTC program. With approximately 26 projects, this amounts to an average of $229,170 in federal funding per project, or about $4,430 per unit. Notably, Tuscaloosa holds 3.35% of Alabama's total LIHTC funding, indicating a significant portion of the state's affordable housing resources.
The city's LIHTC-funded affordable housing development spans nearly three decades, from 1989 to 2017. The 1990s saw the highest number of LIHTC projects completed, including developments such as Chateau Apartments, Dakota Apartments, and Pine Cone Apartments.
The LIHTC-funded housing stock in Tuscaloosa offers a diverse range of unit types. Of the 1,345 total units, there are 12 efficiencies, 310 one-bedroom units, 532 two-bedroom units, 247 three-bedroom units, and 36 four-bedroom units. This distribution caters to various household sizes and needs within the low-income community.
One notable project, John H. England Jr. Manor, completed in 1990, specifically targets individuals with mental illness. This specialized housing addresses the unique needs of a vulnerable population, highlighting the program's ability to serve diverse community requirements.
Demographic trends over the past decade show Tuscaloosa's population has grown steadily, increasing from 95,334 in 2013 to 110,598 in 2022. The median income has risen from $39,236 in 2013 to $49,005 in 2022. Racially, the city has maintained a relatively stable composition, with a slight increase in diversity. The Black population has remained consistent at around 38-40%, while the Hispanic population has grown from 2% to 4%.
In conclusion, Tuscaloosa's LIHTC-funded affordable housing inventory plays a crucial role in addressing the city's low-income housing needs. With a diverse range of unit types and targeted projects, the program has contributed significantly to the city's housing landscape over the past three decades. As Tuscaloosa continues to grow and evolve demographically, ongoing assessment of affordable housing needs will be essential to ensure adequate support for its low-income residents.
