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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Washington Square, a neighborhood in Syracuse, New York, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 44 units, all designated as low-income. The neighborhood's population in 2022 was 13,736, with an estimated housing inventory of 5,263 units based on national average household size. LIHTC-funded affordable housing comprises approximately 0.84% of the estimated housing units in the neighborhood, which is below the 15-20% affordable housing stock typically recommended for a balanced community.
Washington Square has two LIHTC-funded projects: Housing Visions Group Ix and Conifer Academy Court. Housing Visions Group Ix, completed in 2001, contains 15 units with a mix of one to four-bedroom apartments. Conifer Academy Court has 29 units, consisting of one and two-bedroom apartments. The completion year for this project is not specified. The distribution of unit types across both projects includes 20 one-bedroom units, 18 two-bedroom units, 5 three-bedroom units, and 1 four-bedroom unit, suggesting an effort to accommodate various household sizes and needs.
Over the past decade, Washington Square has experienced demographic shifts. The population remained relatively stable, with a slight decrease from 13,857 in 2013 to 13,736 in 2022. The median income increased significantly from $24,344 in 2013 to $31,849 in 2022, representing a 30.8% increase. Racial demographics also changed notably, with the Black population increasing from 17% in 2013 to 32% in 2022, while the White population decreased from 49% to 39%. The Asian population remained relatively stable, slightly decreasing from 19% to 18%.
Despite these demographic changes and the increase in median income, no new LIHTC projects have been reported in the neighborhood since 2001. This may indicate that other affordable housing initiatives are addressing the community's needs, or that the focus of affordable housing development has shifted to other areas of Syracuse.
Washington Square's LIHTC-funded affordable housing inventory represents a small portion of the neighborhood's estimated housing stock. The two existing projects provide a mix of unit sizes, potentially catering to diverse household needs. Over the past decade, the neighborhood has experienced demographic shifts, including an increase in median income and changes in racial composition. Despite these changes, there has been no reported expansion of LIHTC-funded housing in recent years. This analysis provides a snapshot of the neighborhood's affordable housing landscape, but a comprehensive understanding would require consideration of other affordable housing initiatives and broader housing market dynamics in Syracuse.