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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Central City, a neighborhood in Birmingham, Alabama, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area contains 685 units in LIHTC funded projects, with 605 designated as low-income units. Based on the 2022 population of 2,519 and using the national average household size, the estimated number of housing units in the neighborhood is approximately 965. This suggests that LIHTC funded affordable housing comprises about 71% of the estimated housing inventory, indicating a substantial contribution to the neighborhood's housing stock.
The LIHTC program has invested significantly in Central City, with project tax credits totaling $3,275,032. This equates to an average federal funding of approximately $4,781 per unit in LIHTC funded projects. The neighborhood has experienced consistent development of affordable housing over time, with projects completed from 1999 to 2007. The earliest project, Yw Housing, was completed in 1999, while Park Place III represents the most recent addition in 2007, demonstrating nearly a decade of affordable housing development in the area.
The early 2000s were particularly active for affordable housing construction in Central City. Notable projects during this period include Park Place I (2003), Park Place II (2004), and Bankhead Towers (2005). This cluster of developments indicates a concentrated effort to increase affordable housing options during that time frame.
The LIHTC funded housing inventory in Central City is diverse, comprising a total of 685 units: 2 efficiencies, 392 one-bedroom units, 67 two-bedroom units, 78 three-bedroom units, and 2 four-bedroom units. This distribution heavily favors one-bedroom apartments, which may cater to single residents or small families. Park Place I, completed in 2003, is a project of particular interest as it targets individuals with mental illness, addressing the unique needs of a vulnerable population and potentially offering supportive services alongside affordable housing.
Central City has experienced demographic shifts over the past decade. The population has remained relatively stable, with a slight decrease from 2,786 in 2015 to 2,519 in 2022. However, median income has increased significantly, rising from $26,786 in 2015 to $35,863 in 2022, potentially indicating improving economic conditions for residents. Racial demographics have also changed. The Black population percentage has increased slightly from 51% in 2015 to 57% in 2022, while the White population has decreased from 44% to 36% over the same period. The Hispanic population, though small, has grown from 1% to 6% during this time. These demographic shifts, particularly the rising median income, may influence future affordable housing needs in the neighborhood.
Central City's LIHTC funded affordable housing inventory is a significant component of its housing landscape, covering an estimated 71% of the neighborhood's housing units. The area experienced consistent development of affordable housing from 1999 to 2007, with a concentration of projects in the early 2000s. The housing stock is diverse, though predominantly composed of one-bedroom units. The neighborhood has undergone demographic changes in recent years, including rising median incomes and slight shifts in racial composition, which may impact future affordable housing needs and development strategies.