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Carr Square: Extensive LIHTC-Funded Affordable Housing in a Changing St. Louis 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
Carr Square, a neighborhood in St. Louis, Missouri, features a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood contains 780 units in LIHTC funded projects, with 590 designated as low-income units. Based on the 2022 population of 1,451 and an estimated 556 housing units, LIHTC funded affordable housing covers approximately 140% of the neighborhood's estimated housing inventory. This indicates that LIHTC funded affordable housing encompasses most of the neighborhood's housing stock.
The LIHTC projects in Carr Square have received $601,131 in project tax credits, averaging approximately $771 per unit in federal funding. Affordable housing development in the area has been consistent over time. The first LIHTC project, Vaughn Residence At Murphy Pk I, was completed in 1997, while the most recent project, Vaughn Elderly, was finished in 2007. This represents a decade of continuous investment in affordable housing in the area.
The 2000s were the most active period for LIHTC development in Carr Square, with three projects completed: Geo L Vaughn Res At Murphy Park Phs 2 (2000), Preservation Square (2001), and Vaughn Elderly (2007). The LIHTC funded projects in Carr Square offer a range of unit types. While the number of efficiencies is not available, the inventory includes 117 one-bedroom units, 125 two-bedroom units, 114 three-bedroom units, and 19 four-bedroom units. This distribution suggests accommodation for various household sizes, from individuals to larger families.
Carr Square has experienced significant demographic changes over the past decade. The population decreased from 2,462 in 2018 to 1,451 in 2022, a decline of about 41%. Despite this population decrease, the median income increased from $15,294 in 2018 to $18,235 in 2022, representing a 19% rise.
The racial composition of the neighborhood has shifted slightly. While the majority of the population remains Black (89% in 2022), there has been a small increase in diversity. The Hispanic population grew from 0% in 2018 to 6% in 2022, and the White population increased from 1% to 4% during the same period.
These demographic changes, particularly the declining population and increasing median income, may indicate changing housing needs in the neighborhood. However, the continued high proportion of low-income residents suggests an ongoing need for affordable housing options.
Carr Square demonstrates substantial investment in LIHTC funded affordable housing, with projects covering more than the estimated housing inventory of the neighborhood. The area saw consistent development of affordable housing from 1997 to 2007, with a variety of unit types to accommodate different household sizes. Despite recent population decline and slight increases in median income and racial diversity, the neighborhood maintains a significant need for affordable housing options. The LIHTC program has played a crucial role in meeting this need, providing a foundation for housing stability in Carr Square.
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