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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Vandeventer neighborhood in St. Louis, Missouri, possesses a substantial inventory of affordable housing funded by the Low-Income Housing Tax Credit (LIHTC) program. The neighborhood contains 213 units in LIHTC-funded projects, with 152 designated as low-income units. This represents approximately 27.6% of the estimated 773 housing units in the neighborhood, based on the 2022 population of 2,019. The significant presence of affordable housing options in Vandeventer is evident from these figures.
The LIHTC program has allocated $2,357,814 in tax credits for affordable housing projects in Vandeventer. This equates to an average federal funding of $11,070 per unit in LIHTC-funded projects. The development of affordable housing in the neighborhood has occurred steadily over nearly three decades, commencing with the Dr Taylor Apts project in 1993 and concluding with the Finney Place project in 2020.
The 2010s witnessed the most substantial growth in affordable housing, with the completion of three projects: North Sarah II - East and West in 2014, and Vandeventer Place in 2016. This increase in development during this period suggests an intensified focus on addressing affordable housing needs. The LIHTC-funded projects in Vandeventer offer a range of unit types, including 19 one-bedroom, 60 two-bedroom, 26 three-bedroom, and 13 four-bedroom units, catering to diverse household sizes and needs within the community.
Two projects, Vandeventer Place and Finney Place, specifically target the handicapped population. This focus on accessible housing demonstrates an effort to address the needs of residents with disabilities, potentially offering features such as wider doorways, grab bars, and other accessibility modifications.
Over the past decade, Vandeventer's population has remained relatively stable, fluctuating between approximately 1,800 and 2,100 residents. The median income has shown variability, rising from $33,057 in 2017 to $40,250 in 2021, before decreasing to $34,294 in 2022. This recent decline in median income may indicate an ongoing need for affordable housing options in the neighborhood.
The racial composition of Vandeventer has remained predominantly African American, with a slight decrease from 89% in 2015 to 85% in 2022. The white population has seen a small increase from 8% to 12% during the same period. The consistency in racial demographics suggests that the LIHTC projects have been serving a stable community composition.
The Vandeventer neighborhood demonstrates a significant commitment to affordable housing through its LIHTC-funded projects. With 27.6% of the estimated housing inventory dedicated to affordable units, the neighborhood exceeds the target percentage of 15-20% for a well-balanced community. The steady development of LIHTC projects over nearly three decades, particularly the growth in the 2010s, reflects ongoing efforts to meet affordable housing needs. The diverse unit types and focus on accommodating handicapped residents indicate an attempt to serve various household sizes and specific populations. While the recent decline in median income suggests a continued need for affordable housing, the stable population and racial demographics imply that these projects are serving a consistent community base.