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Crown Heights: Decades of Affordable Housing Development Through LIHTC
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Crown Heights, a neighborhood in Brooklyn, New York, has a significant number of Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. The neighborhood contains 4,146 total units in LIHTC-funded projects, with 3,619 of these designated as low-income units. This affordable housing inventory comprises approximately 6.8% of the neighborhood's estimated 61,077 housing units. While substantial, this falls short of the 15-20% target for affordable housing in a balanced community.
The LIHTC program has invested $41,104,207 in project tax credits in Crown Heights, averaging about $9,914 per unit in LIHTC-funded projects. Affordable housing development in Crown Heights spans nearly three decades, with the earliest LIHTC projects dating to 1990 and the most recent completed in 2018. The 1990s saw the most significant affordable housing development activity in the area.
Crown Heights' LIHTC-funded housing stock includes 250 efficiencies, 832 one-bedroom units, 940 two-bedroom units, 334 three-bedroom units, and 70 four-bedroom units. This diversity caters to various household sizes and needs. Some projects target specific populations, such as the Bergen Saratoga Apartments for individuals with severe persistent illness and the Concern Bergen project for those with serious mental illness, both completed in 2016.
Crown Heights has experienced significant demographic changes over the past decade. The population grew from 146,637 in 2015 to 159,410 in 2022, indicating increased housing demand. Median income rose from $46,018 in 2015 to $61,094 in 2022, potentially affecting affordable housing needs. Racial demographics have shifted, with the Black population decreasing from 66% in 2015 to 54% in 2022, while Hispanic and White populations have increased.
Despite these demographic shifts, LIHTC-funded projects have continued to be developed in Crown Heights throughout the last decade, with several projects completed between 2015 and 2018. This ongoing development suggests a persistent need for affordable housing in the area, even as the neighborhood's demographics change.
Crown Heights' LIHTC-funded affordable housing inventory represents a significant portion of the neighborhood's housing stock, although it falls short of ideal targets. The long history of LIHTC projects in the area demonstrates a sustained commitment to affordable housing. The diverse unit types and targeted projects for specific populations showcase efforts to meet varied community needs. While demographic shifts have occurred, the continued development of LIHTC projects in recent years indicates an ongoing demand for affordable housing in this dynamic Brooklyn neighborhood.
