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Morrisania's LIHTC Affordable Housing: A Significant Contribution to the Bronx Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Morrisania, a neighborhood in the Bronx, New York, has a substantial presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood contains 3,175 total units in LIHTC funded projects, with 2,972 of these designated as low-income units. Based on the 2022 population of 26,449 and an estimated 10,134 housing units, the LIHTC funded affordable housing comprises approximately 31.3% of the neighborhood's estimated housing inventory. This indicates a significant contribution to the area's affordable housing needs.
The LIHTC program has invested $25,582,512 in project tax credits for Morrisania's affordable housing. This amounts to an average of about $8,057 in federal funding per unit. The neighborhood has experienced a long-term commitment to affordable housing, with projects spanning from 1992 to 2018. The earliest recorded project was "Round III (Boston Rd Development Assoc)" in 1992, while the most recent ones were "La Casa Del Mundo" and "3365 Third Ave" in 2018.
The 2000s witnessed the most affordable housing development activity, with multiple projects completed each year. Notable projects from this period include "Taino Plaza" (2004), "PSS Grandparent Family Apts" (2005), and "La Casa De La Luna Y Estrellas" (2010). The housing inventory in LIHTC funded projects is diverse, featuring 279 efficiencies, 722 one-bedroom, 1,073 two-bedroom, 227 three-bedroom, and 2 four-bedroom units. This variety accommodates different household sizes and needs within the community.
Over the past decade, Morrisania's population has fluctuated, reaching a peak of 28,517 in 2018 before declining to 26,449 in 2022. The median income has shown a consistent upward trend, increasing from $19,154 in 2013 to $29,972 in 2022. This rise in median income may explain the absence of new LIHTC projects since 2018, as the overall economic condition of the neighborhood may have improved.
The racial composition of Morrisania has remained relatively stable, with a slight decrease in the Hispanic population (from 60% in 2015 to 53% in 2022) and a small increase in the Black population (from 36% in 2015 to 42% in 2022). This demographic stability suggests that the existing affordable housing stock may be adequately serving the community's needs.
Morrisania's LIHTC funded affordable housing inventory represents a significant portion of the neighborhood's estimated housing stock. The long-term investment in affordable housing, spanning nearly three decades, demonstrates a sustained commitment to addressing low-income housing needs. The diverse unit types cater to various household sizes, while the substantial federal investment underscores the importance of the LIHTC program in this community. Despite the lack of new LIHTC projects in recent years, the existing inventory, coupled with rising median incomes, suggests that the current affordable housing stock may be meeting the neighborhood's needs. However, ongoing monitoring of demographic trends and housing affordability will be crucial to ensure continued alignment with community requirements.
