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Alameda's Affordable Housing: Two Decades of LIHTC Development in an Island City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Alameda, an island city in the San Francisco Bay Area, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city has 324 total units in LIHTC funded projects, with 316 designated as low-income units. Based on an estimated housing inventory of 29,134 units, LIHTC funded affordable housing comprises approximately 1.1% of the city's housing stock.
Alameda has received $6,558,232 in project tax credits for affordable housing through the LIHTC program. With 8 projects, this equates to an average federal funding of $819,779 per project and $20,241 per unit. The city holds 0.21% of the total state LIHTC funding, indicating a small but significant contribution to California's affordable housing efforts.
Affordable housing development in Alameda spans over two decades. The first LIHTC project, Playa Del Alameda Apts, was completed in 2000, while the most recent, Alameda Point Senior, was finished in 2020. This 20-year period demonstrates the city's ongoing commitment to affordable housing development.
The 2010s saw the most significant affordable housing development in Alameda, with five projects completed during this decade. Notable projects include Jack Capon Villa (2014), Stargell Commons (2017), and Everett Commons (2018).
The LIHTC funded projects in Alameda offer a range of unit types, including 61 efficiencies, 79 one-bedroom units, 118 two-bedroom units, 54 three-bedroom units, and 3 four-bedroom units. This variety caters to different household sizes and needs within the low-income population.
Two projects address specific populations: Alameda Islander, completed in 2012, focuses on special needs residents, while Jack Capon Villa, finished in 2014, is dedicated to individuals with mental illness. These projects demonstrate Alameda's efforts to address specific housing needs within vulnerable populations.
Alameda's population has remained relatively stable over the past decade, with a slight decrease from 79,188 in 2017 to 76,039 in 2022. During this period, the median income increased from $89,979 in 2017 to $131,116 in 2022. This income growth might suggest a decreasing need for affordable housing, but it could also lead to increased housing costs, potentially displacing lower-income residents.
The racial composition of Alameda has remained relatively stable, with a slight increase in the Asian population (from 27% in 2017 to 32% in 2022) and a small decrease in the White population (from 44% in 2017 to 40% in 2022). The Hispanic population increased from 14% to 15% during this period. These demographic shifts may influence the need for culturally sensitive affordable housing options.
Alameda's LIHTC funded affordable housing inventory demonstrates a consistent commitment to addressing low-income housing needs. The city has used federal funding to create a diverse range of housing options, including specialized projects for vulnerable populations. Despite rising median incomes, the ongoing development of affordable housing projects suggests a recognition of the persistent need for such housing in a high-cost area like the San Francisco Bay Area. The city's efforts to maintain a diverse housing stock align with its changing demographics and evolving community needs.
