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Affordable Housing in Wynnefield Heights: Three Decades of LIHTC Investment
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Wynnefield Heights, a neighborhood in Philadelphia, Pennsylvania, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory consists of 189 total units, all designated as low-income units. Based on the 2022 population of 7,637 and using the national average household size, the estimated housing inventory is approximately 2,926 units. The LIHTC funded affordable housing comprises about 6.46% of the neighborhood's estimated housing stock.
The LIHTC program has invested substantially in Wynnefield Heights, with project tax credits totaling $957,019. This equates to an average federal funding of approximately $5,063 per unit. The neighborhood has demonstrated a long-term commitment to affordable housing, with the earliest recorded LIHTC project, Fairmount Apts, completed in 1994, and the most recent, Park Tower, finished in 2015. This span of over two decades indicates a sustained effort to provide affordable housing options in the area.
The 1990s and 2010s were particularly active decades for LIHTC development in Wynnefield Heights. Fairmount Apts, completed in 1994, offers a diverse mix of unit types, including 3 one-bedroom, 16 two-bedroom, 11 three-bedroom, and 3 four-bedroom units. Park Tower, finished in 2015, focuses entirely on one-bedroom units, providing 156 such apartments. The Pavilion is another LIHTC project in the neighborhood, though its completion year is not specified.
In total, the LIHTC inventory in Wynnefield Heights comprises 159 one-bedroom units, 16 two-bedroom units, 11 three-bedroom units, and 3 four-bedroom units. This distribution suggests a focus on housing for smaller households, with a significant majority of units being one-bedroom apartments.
Over the past decade, Wynnefield Heights has experienced some demographic shifts. The population has remained relatively stable, with a slight increase from 7,413 in 2019 to 7,637 in 2022. The median income has shown a notable increase, rising from $47,529 in 2019 to $48,243 in 2022. This trend might indicate a growing need for affordable housing options to maintain economic diversity in the neighborhood.
Racial demographics have also shifted, with the Black population decreasing from 60% in 2019 to 58% in 2022, while the White population decreased from 22% to 18% over the same period. The Hispanic population has seen a significant increase from 3% to 7%, suggesting a growing diversity in the neighborhood that may influence future affordable housing needs.
Wynnefield Heights demonstrates a consistent commitment to affordable housing through its LIHTC funded projects. The neighborhood's 189 low-income units, representing 6.46% of the estimated housing stock, provide crucial affordable options. The mix of unit types, with a predominance of one-bedroom apartments, caters to various household sizes. The demographic trends, including rising median income and increasing racial diversity, underscore the ongoing importance of maintaining and potentially expanding affordable housing options in Wynnefield Heights to ensure a balanced and inclusive community.
