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Scott Park's LIHTC-Funded Affordable Housing: A Three-Decade Commitment Amidst Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Scott Park, a neighborhood in Toledo, Ohio, has a notable presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory consists of 291 total affordable units, all of which are designated as low-income units. This affordable housing stock covers approximately 7.2% of the estimated 4,051 housing units in the neighborhood, based on the 2022 population of 10,573 and the national average household size of 2.61.
The LIHTC program has invested $444,672 in tax credits for affordable housing projects in Scott Park. This translates to an average federal funding of approximately $1,528 per unit. The neighborhood has seen a long-term commitment to affordable housing, with projects spanning from 1988 to 2019. The earliest project, Kelly Apts, was completed in 1988, while the most recent addition, Essmar Senior Apartments (formerly St. Georges Manor), was finished in 2019. This 31-year span demonstrates a sustained effort to provide affordable housing options in the area.
The 1990s saw significant affordable housing development, with Country Creek Apts, the largest project, completed in 1996. This project alone accounts for 229 of the 291 total affordable units in the neighborhood. The breakdown of unit types is limited, but we know that Essmar Senior Apartments contributes 5 one-bedroom units and 1 two-bedroom unit to the neighborhood's affordable housing stock.
Over the past decade, Scott Park has experienced some demographic shifts that may correlate with its affordable housing landscape. The neighborhood's population has gradually declined from 12,226 in 2013 to 10,573 in 2022, a decrease of about 13.5%. Despite this population decrease, the median income has shown an overall upward trend, rising from $27,952 in 2013 to $35,887 in 2022, representing a 28.4% increase.
Racial demographics have also shifted during this period. The Black population percentage decreased from 50% in 2013 to 43% in 2022, while the White population decreased slightly from 38% to 37%. Notably, there has been an increase in diversity, with the Hispanic population growing from 3% to 8%, and those identifying as two or more races increasing from 3% to 7%.
The completion of Essmar Senior Apartments in 2019 aligns with the growing senior population trend in many urban areas, potentially addressing the needs of an aging demographic within Scott Park.
Scott Park's affordable housing landscape, shaped by LIHTC investments, covers a modest portion of the neighborhood's estimated housing stock. The area has seen a consistent commitment to affordable housing development over three decades, with projects ranging from small-scale apartments to larger complexes. While the population has decreased slightly, rising median incomes and increasing diversity suggest a changing neighborhood dynamic. The most recent LIHTC project, focusing on senior housing, indicates an effort to adapt to evolving community needs. This analysis provides insight into how LIHTC-funded housing contributes to the affordable housing inventory in Scott Park, supporting its lower-income residents amidst demographic changes.
