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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Fine View, a neighborhood in Pittsburgh, Pennsylvania, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood has 65 units in LIHTC funded projects, with 47 designated as low-income units. Based on the 2022 population of 1,316 and using the national average household size, the estimated housing inventory for Fine View is approximately 504 units. The LIHTC funded affordable housing covers about 12.9% of the neighborhood's estimated housing inventory, which is close to the target percentage for a well-balanced community.
The LIHTC program has invested $547,205 in tax credits for affordable housing projects in Fine View. This translates to an average federal funding of about $8,419 per unit in LIHTC funded projects. The neighborhood has one notable LIHTC project, Allegheny Dwellings Ph I, which was completed in 2018. This project marks the introduction of LIHTC funded affordable housing in Fine View.
The Allegheny Dwellings Ph I project consists of a mix of unit types, with 35 one-bedroom units, 16 two-bedroom units, and 14 three-bedroom units. This diverse range of unit sizes can accommodate various household compositions, from individuals to small families.
Over the past decade, Fine View has experienced some demographic shifts. The population has remained relatively stable, with a slight increase from 1,080 in 2019 to 1,316 in 2022. Median income has shown a significant upward trend, rising from $27,960 in 2019 to $33,536 in 2022, an increase of about 20%.
Racial distribution in Fine View has also evolved. The Black population decreased slightly from 51% in 2019 to 46% in 2022, while the White population remained relatively stable, increasing marginally from 45% to 45% during the same period. There has been a small increase in racial diversity, with the percentage of residents identifying as two or more races growing from 1% to 4% between 2019 and 2022.
The completion of the Allegheny Dwellings Ph I project in 2018 coincides with a period of increasing median income and slight shifts in racial composition. This suggests that the LIHTC project may have been a response to changing neighborhood dynamics and a growing need for affordable housing options in an area experiencing economic growth.
Fine View's LIHTC funded affordable housing inventory, while consisting of a single project, makes a significant contribution to the neighborhood's housing mix. The Allegheny Dwellings Ph I project, completed in 2018, provides 65 units of affordable housing, with 47 designated as low-income units. This represents about 12.9% of the estimated housing inventory, which is within the target range for a balanced community. The neighborhood has experienced moderate population growth, significant income increases, and subtle shifts in racial composition over the past decade. These demographic changes may have influenced the development of LIHTC funded affordable housing in Fine View, helping to maintain economic diversity in a changing urban landscape.