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Center Point, Alabama: LIHTC-Funded Affordable Housing Amidst Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Center Point, Alabama, a city with a population of 32,427 as of 2022, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 506 total units, including 307 low-income units. This represents approximately 4.1% of the city's estimated housing stock of 12,424 units.
The city has received $2,291,554 in project tax credits through the LIHTC program, distributed across three projects. This equates to an average of $763,851 in federal funding per project and $4,528 per unit. Center Point's LIHTC funding accounts for 1.29% of Alabama's total allocation.
The LIHTC program in Center Point spans a decade, with the first project, Magnolia Court Apartments, completed in 2004, and the most recent, Amberwood, finished in 2014. The 2000s were the most active period for affordable housing development, with two projects completed during this time.
The LIHTC-funded housing inventory in Center Point consists of 84 one-bedroom units, 337 two-bedroom units, and 85 three-bedroom units, indicating a focus on accommodating small to medium-sized families.
Center Point's population has remained relatively stable over the last decade, with a slight decrease from 32,322 in 2013 to 32,427 in 2022. The median income has fluctuated, reaching a low of $39,820 in 2017 and rising to $45,016 in 2022. Racial demographics have shifted significantly, with the Black population increasing from 73% in 2013 to 78% in 2022, while the White population decreased from 23% to 17%. The Hispanic population grew from 1% to 4% during this period.
The completion of Amberwood in 2014 coincides with a period of lower median income in the city, suggesting a response to increased need for affordable housing. The absence of new LIHTC projects since 2014 may be related to the gradual increase in median income observed in recent years.
Center Point's LIHTC-funded affordable housing inventory represents a small but significant portion of the city's housing stock. The city has utilized over $2 million in tax credits to support three projects over a decade. The housing mix primarily serves small and medium-sized families. While the population has remained stable, shifts in racial demographics and fluctuations in median income have likely influenced the demand for affordable housing. The lack of new LIHTC projects since 2014 may reflect changing economic conditions in the city.
