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San Clemente's LIHTC-Funded Affordable Housing: A Decade of Development and Diversity
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
San Clemente, a coastal city in California, has a notable presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city's LIHTC inventory includes 403 total units, with 360 specifically designated as low-income units. Based on the estimated housing inventory of 24,736 units, the LIHTC-funded affordable housing covers approximately 1.63% of the city's housing stock.
San Clemente has received $3,259,978 in project tax credits for affordable housing through the LIHTC program. With six approximate projects, this translates to an average federal funding of $543,330 per project and $8,089 per unit. The city holds 0.11% of the total state LIHTC funding, indicating a relatively small but significant contribution to California's overall affordable housing efforts.
The LIHTC-funded affordable housing in San Clemente spans from 2002 to 2015, showcasing a 13-year history of affordable housing development. The first project, Vintage Shores, was completed in 2002, while the most recent projects, Las Palmas Village and The Presidio, were finished in 2015. The decade of the 2000s saw the most affordable housing projects completed, with three projects built during this period.
The city's LIHTC-funded housing inventory includes a diverse range of unit types. There are 18 efficiencies, 142 one-bedroom units, 94 two-bedroom units, and 95 three-bedroom units. This distribution suggests a focus on accommodating various household sizes and needs.
One notable project, SC Senior Apartments, completed in 2014, specifically targets individuals with mental illness. This project demonstrates an effort to address the unique housing needs of vulnerable populations within the community.
Analyzing demographic trends over the last decade, San Clemente's population has remained relatively stable, with a slight decrease from 65,021 in 2013 to 64,562 in 2019. The median income has shown significant growth, rising from $91,304 in 2013 to $127,650 in 2019, which may indicate a growing need for affordable housing options. The racial composition of the city has remained fairly consistent, with a slight increase in Asian and multiracial populations and a small decrease in the Hispanic population.
In summary, San Clemente's LIHTC-funded affordable housing inventory, while modest in comparison to the overall housing stock, represents a significant investment in addressing affordable housing needs. The city has seen a steady development of affordable housing projects over more than a decade, with a diverse range of unit types to accommodate various household sizes. The focus on specific populations, such as seniors with mental illness, demonstrates an effort to address unique housing needs within the community. As the city's median income continues to rise, the importance of maintaining and potentially expanding affordable housing options may become increasingly crucial for maintaining a diverse and inclusive community.
