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Affordable Housing in Westwood Park: LIHTC Impact on San Francisco Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Westwood Park, a San Francisco neighborhood, has a population of 2,336 as of 2022. The neighborhood's Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory consists of one project with 71 units, including 7 designated low-income units. This LIHTC-funded housing represents approximately 7.9% of the neighborhood's estimated 895 housing units.
The LIHTC program has invested $1,225,562 in tax credits for affordable housing in Westwood Park, averaging about $17,261 per unit. The sole LIHTC project, 1100 Ocean Avenue Apartments, was completed in 2015. This project offers a mix of 18 efficiencies, 18 one-bedroom units, 21 two-bedroom units, and 14 three-bedroom units, catering to various household sizes.
Westwood Park has experienced demographic changes over the past decade. The population increased from 2,092 in 2013 to 2,336 in 2022. The median income rose from $127,516 in 2013 to $133,104 in 2022. The racial composition shifted significantly, with the Asian population increasing from 23% to 45%, while the Hispanic and White populations decreased from 22% to 14% and 45% to 34%, respectively. The Black population remained stable at 3-4%.
The introduction of the LIHTC project in 2015 coincides with a period of population growth and increasing median income in Westwood Park. This timing suggests that the affordable housing development may have been a response to the growing need for diverse housing options in an area experiencing economic changes.
Westwood Park's LIHTC-funded affordable housing, although limited to one project, contributes significantly to the neighborhood's housing diversity. The 1100 Ocean Avenue Apartments offers various unit configurations, addressing different household needs. While the LIHTC-funded units represent a small portion of the estimated housing stock, they play a role in providing affordable options in this changing San Francisco neighborhood.
