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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
West Central, a neighborhood in Fort Wayne, Indiana, had a population of 4,090 in 2022. The area contains one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, Randall Lofts, which provides 42 low-income units. This LIHTC-funded affordable housing represents approximately 2.68% of the neighborhood's estimated housing inventory of 1,567 units.
The LIHTC program has invested $674,246 in tax credits for affordable housing in West Central. This equates to an average federal funding of $16,053 per unit in the Randall Lofts project. Completed in 2014, Randall Lofts is the only LIHTC-funded affordable housing development in the neighborhood over the past decade.
Randall Lofts consists of 31 one-bedroom units and 11 two-bedroom units, addressing the needs of various household sizes within the low-income population. This unit mix indicates a focus on accommodating smaller households and individuals requiring affordable housing options.
West Central has experienced demographic changes over the past decade. The population increased from 3,973 in 2013 to 4,090 in 2022. Concurrently, the median income rose significantly from $22,996 in 2013 to $35,765 in 2022, suggesting changing economic conditions in the neighborhood.
Racial demographics have remained relatively stable, with the white population consistently representing the majority. There has been a slight increase in diversity, with minor fluctuations in the percentages of Black, Hispanic, and multi-racial residents over the years.
The completion of Randall Lofts in 2014 coincides with a period of population growth and the beginning of the upward trend in median income. This timing suggests that the LIHTC project may have been a response to growing housing needs in the neighborhood as it underwent demographic changes.
West Central's affordable housing landscape is primarily shaped by Randall Lofts, which provides 42 low-income units. This project contributes to the neighborhood's affordable housing stock, though it represents a small percentage of the estimated total housing inventory. The neighborhood has experienced population growth and significant increases in median income over the past decade, potentially influencing the demand for affordable housing. The stability in racial demographics, coupled with the modest increase in diversity, provides context for the community served by this LIHTC development.