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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Crestview, a neighborhood in Overland Park, Kansas, contains a significant proportion of affordable housing funded by the Low-Income Housing Tax Credit (LIHTC) program. The area has 236 total units in LIHTC-funded projects, with 164 designated as low-income units. Based on the 2022 population of 2,985 and an estimated 1,144 housing units, LIHTC-funded affordable housing comprises approximately 20.6% of the neighborhood's estimated housing inventory. This indicates a substantial affordable housing presence in Crestview through the LIHTC program.
The LIHTC program has invested $120,841 in tax credits for affordable housing projects in Crestview. With 236 total units in LIHTC-funded projects, this equates to an average federal funding of about $512 per unit. Affordable housing developments in the neighborhood span several decades, with the earliest project, Tiffany Gardens, completed in 1989, and Sundance Overland Park following in 1999. This demonstrates a long-term commitment to affordable housing in the area over at least a 10-year period.
The 1990s witnessed the most affordable housing activity in Crestview, with two notable projects completed during this decade. The housing inventory includes a variety of unit types: 91 one-bedroom units, 129 two-bedroom units, and 16 three-bedroom units. This diverse range of unit sizes indicates an effort to accommodate various household compositions within the affordable housing stock.
Crestview has experienced demographic changes over the past decade. The population increased from 2,306 in 2015 to 2,985 in 2022, indicating steady growth. Median income also rose from $56,511 in 2015 to $64,674 in 2022, suggesting an overall improvement in economic conditions for the neighborhood.
Racial demographics have remained relatively stable, with a slight increase in the white population from 77% in 2015 to 79% in 2022. The Hispanic population has grown notably, rising from 10% in 2015 to 18% in 2022. This increasing diversity may indicate a continued need for affordable housing options to support various community members.
Crestview demonstrates a significant presence of LIHTC-funded affordable housing, with projects dating back to the late 1980s. The neighborhood's affordable housing stock covers about 20.6% of the estimated housing inventory, aligning with target percentages for a well-balanced community. The diverse unit mix suggests an effort to accommodate different household sizes and needs. As the neighborhood continues to grow and diversify, particularly with the increase in the Hispanic population, the existing affordable housing stock may play a crucial role in maintaining community stability and inclusivity. The rising median income, coupled with population growth, indicates a dynamic neighborhood that may benefit from its established affordable housing base as it evolves.