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Affordable Housing in Zip Code 10454: Analysis of LIHTC Funded Projects in the Bronx
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
The zip code 10454 in the Bronx, New York, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area, with a population of 40,762 in 2022, has 2,015 total units in LIHTC-funded projects, of which 1,612 are designated as low-income units. Based on an estimated housing inventory of 15,618 units, the LIHTC-funded affordable housing covers approximately 12.9% of the zip code's housing stock.
The LIHTC projects in zip code 10454 have received $23,704,768 in tax credits, averaging about $11,764 per unit in federal funding. This represents 1.12% of New York state's total LIHTC funding, indicating a substantial investment in affordable housing in this area.
The first LIHTC project in zip code 10454 was completed in 1997, with the most recent project, Mill Brook Terrace, finished in 2019. This 22-year span demonstrates a long-term commitment to affordable housing development in the area. The 2000s and 2010s saw the most affordable housing projects completed, with notable developments including Thessalonica Court (2005), Bruckner By The Bridge (2010), and East 144th Street Affordable Housing (2014).
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The LIHTC-funded projects in zip code 10454 offer a diverse range of unit types, including 312 efficiencies, 527 one-bedroom units, 765 two-bedroom units, 111 three-bedroom units, and 78 four-bedroom units. This variety caters to different household sizes and needs within the community.
Several projects target specific populations. Jasmine Court (2003) focuses on individuals with AIDS/HIV, East 144th Street Affordable Housing (2014) serves those with serious mental illness, and Barrier Free Living Apartments (2015) is designed for veterans. These specialized projects address the unique housing needs of vulnerable populations within the community.
Over the past decade, the zip code's population has remained relatively stable, with an increase from 37,147 in 2019 to 40,762 in 2022. The median income has shown improvement, rising from $25,022 in 2019 to $29,178 in 2022, indicating a potential increase in economic opportunities for residents.
The racial composition of the area has remained consistent, with a predominant Hispanic population (around 70%) and a significant Black population (around 25%). This demographic stability suggests that the LIHTC projects have been contributing to maintaining affordable housing options for long-term residents.
Zip code 10454 in the Bronx demonstrates a substantial commitment to affordable housing through LIHTC-funded projects. With 12.9% of the estimated housing stock dedicated to affordable units, the area is approaching the target range of 15-20% for a well-balanced community. The diversity of unit types and targeted populations in these projects reflects an effort to meet varied housing needs. The consistent development of affordable housing over two decades, coupled with recent improvements in median income, suggests a positive trend in addressing housing affordability in this community.
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