Loading Content...
Lanning Square: A Case Study in Affordable Housing Development and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Lanning Square, a neighborhood in Camden, New Jersey, has a significant history of affordable housing development through the Low-Income Housing Tax Credit (LIHTC) program. The neighborhood contains 568 total units in LIHTC-funded projects, with 557 designated as low-income units. Based on the 2022 population of 2,634 and an estimated 1,009 housing units, LIHTC-funded affordable housing comprises approximately 56.3% of the neighborhood's estimated housing inventory.
The LIHTC program has made substantial investments in Lanning Square, with project tax credits totaling $4,711,343. This equates to an average federal funding of approximately $8,295 per unit in LIHTC-funded projects. Affordable housing development in the neighborhood has been consistent over nearly three decades, with the earliest recorded project, Cooper Plaza Historic Homes, completed in 1993, and the most recent, Camden Townhouses, completed in 2020.
The 1990s marked the initiation of LIHTC-funded affordable housing in Lanning Square, with three projects completed during this period: Cooper Plaza Historic Homes, Camden Townhouse#310, and Lanning Square West. The 2010s experienced a resurgence in affordable housing development, with Broadway Townhouses and Cooper Plaza completed in 2014 and 2019, respectively. While specific unit breakdowns are limited, LIHTC-funded projects include at least 76 two-bedroom units and 99 three-bedroom units, indicating a focus on accommodating various family sizes.
Over the past decade, Lanning Square has experienced population fluctuations, with an increase from 2,410 in 2010 to 2,634 in 2022. The median income has shown significant growth, rising from $16,444 in 2013 to $26,763 in 2022, representing a 62.8% increase. This income growth may indicate improving economic conditions for residents, potentially influenced by the presence of affordable housing options.
The racial composition of Lanning Square has remained diverse but has experienced shifts. The Black population decreased from 53% in 2020 to 45% in 2022, while the Hispanic population increased from 38% to 48% during the same period. The White population has remained relatively small, decreasing from 5% to 4% between 2020 and 2022. These demographic changes may reflect broader socioeconomic trends in the area and could influence future affordable housing needs.
Lanning Square demonstrates a substantial commitment to affordable housing through the LIHTC program, with over half of its estimated housing inventory consisting of LIHTC-funded units. The neighborhood has seen consistent development of affordable housing projects from the early 1990s through 2020, reflecting ongoing efforts to meet the community's housing needs. The significant federal investment, averaging $8,295 per unit, underscores the importance of the LIHTC program in supporting affordable housing in this area. The demographic trends, including population growth, rising median income, and shifts in racial composition, suggest a dynamic neighborhood that may continue to benefit from affordable housing initiatives to support its diverse and changing population.
