More than 200 affordable housing units coming to San Antonio
SAN ANTONIO — San Antonio is continuing to expand its affordable housing options in the city.
The city announced 220 multifamily rental units and 48 for-sale housing units, bringing this year's total to seven projects.
Here is a breakdown of the new housing areas:
- 10 will be reserved for households earning less than 80 percent of the Area Median Income (AMI) or $56,800 for a family of four;
- 198 units will be reserved for families earning less than 60 percent of the AMI, or $42,600 for a family of four
- 12 units will be available at market rates.
The city said 15 of the 48 for-sale units will be priced for families earning below 120 percent of the AMI. The project will include 10 units reserved for households earning less than 80 percent of AMI and two units for households earning less than 60 percent of AMI.
Officials expect the new units to be complete by December 2021.
"Providing affordable housing to families in San Antonio is critical to the future of our city,” said Mayor Ron Nirenberg. “These new affordable housing units align with the Mayor’s Housing Policy Task Force Report, and I am pleased to see that we are bringing more affordable rental and for-sale housing units to the center city and SA Tomorrow regional centers.”
Terramark Urban Homes submitted an application for Vista Verde Lofts, a 24-unit development to be built at 509 El Paso participating in the Neighborhood Improvements Bond Program.
Franklin Development applied for Park at 38Thirty, a 196-unit development to be built at 3830 Parkdale in the Medical Center area. All 196 of the units will be reserved for households earning less than 60 percent of the AMI. This project included in the Neighborhood Improvements Bond Program, is expected to be completed by July 2021.
SOJO Urban Development's application for a $15 million for-sale townhouse and condominium project, which includes 48 units on Locust and Grayson streets near the Pearl. 15 units will be reserved for families earning below 120 percent of the AMI, earning the distinction of the first mixed-income homeownership project in the Midtown area. The project is expected to be finished by April 2022.
