This is a seven-story, $54 million luxury apartment complex that will include a ground-floor restaurant. The Best Multifamily Contractors in San Antonio, Texas San Antonio Housing Bond Committee short on time and - TPR The Potranco Commons project, located on the far Westside, will result in 360 affordable apartments being built. Phone Number: (210) 434-5154 Edit. Use Next and Previous buttons to navigate. A local affordable housing nonprofit scored $38 million for a project in San Antonio. Developers submitted 29 pitches seeking nearly $96 million, according to a council memo. Millions in funds for five local affordable housing projects awarded Home - - Eastside Community Area Plan Housing Bond Committee Co-Chairs Katie Vela (left) and Shirley Gonzales watch presentations at Tuesday's meeting. "Affordable housing" is housing for people making anything up to 60% AMI, according to the city. (Photo by Josh Huskin) For the last several years, the San Antonio Housing Authority has been planning a project that would see the Alazn-Apache Courts, the city's oldest public housing complex, demolished and replaced with mixed-income housing. Created or preserved over 6,655 units from <30% to 60% AMI. * Deeply affordable units are classified as units below 50% AMI for rental and below 80% for Homeownership and includes Public Housing and some income-based units. Lastly, it is encouraging to note that several apartment projects are in the works in the San Antonio area. Of those apartments, 21 will be for residents making up to 30 percent of the AMI, 14 for up to 50 percent of the AMI and 103 for up to 60 percent of the AMI. $75,733 to $115,493 Yearly. San Antonio Housing Authority Revises Status of Last Green Parcels in Published on Friday, December 16, 2022, CONTACT:Marivel Arauza, Public Relations Manager Two years ago, the Mayor's Housing Policy Task Force defined workforce housing as housing in the . Channary.Gould2@sanantonio.gov. San Antonio Housing Authority. | Addressing housing affordability has been a key priority of mine, and over the past five years, its an issue that San Antonio residents have come together to rally behind, said San Antonio Mayor Ron Nirenberg. in San Antonio. 147 Cheyenne Ave, San Antonio , Texas 78207. With a $1.2 billion bond program teed up for 2022, City Manager Erik Walsh brought six different bond priorities to City Council on Wednesday. The Works Progress Administration project 65-1-66-2583 removed the streetcar rails from Houston and Commerce Streets in downtown San Antonio in 1940. In these submarkets, we are noticing a greater supply as of late, with many new apartments currently under construction. Additional projects that are not Bond-funded, like the City Hall Renovation Project and City Tower Project are also handled by the PWD. A " yes " vote supported authorizing the city of San Antonio to issue $150,000,000 in bonds to fund projects related to housing. San Antonio, TX 78205, Mailing Address San Antonio Proposition F was on the ballot as a referral in San Antonio on May 7, 2022. Downtown Lane Closures In the 1990s, the U.S. Department of Housing and Urban Development, then led by Secretary Henry Cisneros under President Bill Clinton, enacted policies to move away from policies that led to the creation of the nations inner city public housing projects built after President Franklin D. Roosevelt signed into law the 1937 U.S. Housing Act. We are really helping affordability on the South Side, as we need some additional homes, she said. The City of San Antonio defines workforce housing as housing reserved for people making between 61% and 80% AMI, which is roughly between $30,240 and $40,310 for a single person, respectively. Housing. Today, the San Antonio City Council unanimously approved funding for 14 projects that will build or preserve affordable housing. More residential properties on the market will help to make it easier for the public to find accommodation in San Antonio. Through political noise, voters pass largest bond program in San Antonio history. Opportunity Home San Antonio, formerly known as the San Antonio Housing Authority (SAHA), and its partners will soon build 88 new units in the first phase of its redevelopment of the historic Alazn Courts public housing project on the citys Westside. At $24 million, the average unit will cost $272,727 for demolition, design and construction. The housing bond encompasses $45 million for homeownership rehabilitation and preservation; $40 million for acquiring, renovating and maintaining rental housing; $35 million for creating and buying rental housing; $25 million for housing with permanent on-site support services; and $5 million for homeownership production. 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Looking at that predicted growth in pricing, this would mark a significant rebound for San Antonio. Today, the San Antonio City Council unanimously approved funding for 14 projects that will build or preserve affordable housing. prices continue to soar, putting more families at risk of homelessness. Interestingly, the rental market in San Antonio in 2022 was considerably hotter during the peak rental season compared to the first part of the year. Affordable Housing. It is interesting to note that while the expected price appreciation in San Antonio is lower than the national average of 5.4%, in terms of growth in sales volume, it is anticipated that it will far outpace the national rate of change, which is predicted to drop by more than 14%. We hope to close in May, Alamo Community Group Executive Director Jennifer Gonzalez told the outlet. San Antonio voters pass $1.2B bond, first to invest in affordable housing Please reload the page and try again. We will also focus on the competitiveness that exists within the rental market in the city and look at some of the apartment projects currently in the works. Jared Brey March 9, 2021. In terms of sales, an increase of almost 9% is forecast, along with a 5.4% increase in price. Realtors don't sell houses out of the kindness of their hearts. Subscribe to our free daily newsletter for the latest headlines first thing every morning. The second round of housing bond funding is expected to be released early next year for spring awards. In fact, San Antonio was named the seventh most competitive housing market in the state of Texas last year, with El Paso at the very top of the list. Builders in San Antonio depend on their reputation to bring new buyers in and are dedicated to your satisfaction. San Antonio, TX. While our focus is always forward looking to the next affordable housing opportunity, here is what is in the rearview mirror. At $34 million, the Medical Centers 135 apartments will come at an average cost of $251,851 for design and construction. Voters approved the . San Antonio must do more now to avoid a worse housing crisis. These include affordable housing projects in San Antonio, such as the Medio Springs, the Masters Ranch Apartments, and the Paso Fino Apartments these projects range from 160-348 units. . The majority of the rent growth the area experienced came back in 2021 when there was a rebound following the first, most difficult year of the pandemic. Lets take a look at these San Antonio-area apartment projects currently in the works. That is a good question, one that the whole industry is facing across the country, said Michael Reyes, Opportunity Homes public affairs officer whose first home was Alazn Courts. Cities like San Antonio that had long ignored the housing needs of Mexican American and Black families only had to pass bonds to cover 10% of the costs. English (United States). Outside of San Antonio, it is predicted that El Paso will experience the highest increase in price changes and forecasted sales this year in Texas. All Rights Reserved. The 1800 Apartments project on Center Point Road, close to the Tanger Outlets in San Marcos, will result in 330 new apartments once completed. San Antonio, Texas (April 27, 2021) - After a competitive application process, the San Antonio Housing Trust Fund and Foundation is awarding a total of $2,732,340 to five projects that will expand and preserve affordable housing options in San Antonio. The 183 different projects are split between six propositions, which voters will take up separately . Let's take a look at these San Antonio-area apartment projects currently in the works. Between the first quarter of 2020, when the pandemic began, and the third quarter of 2022, asking rents in San Antonio rose by almost 18%, reaching an average of more than $1,240 per month. San Antonio's streetcar system reached its peak at ninety miles read more. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. The housing bond was part of the citys voter-approved $1.2 billion bond in May 2022.City leaders, including Mayor Ron Nirenberg, said the housing bond complements the citys 2021 Strategic Housing Implementation Plan and other long-range housing initiatives designed to grow the number of local inexpensive housing options for both unsheltered persons and what the city calls housing cost-burdened residents.According to U.S. Census Bureau data, 35% of local households were housing cost burdened in 2019, meaning those homeowners or renters spend more than 30% of their monthly income on a mortgage or rent. San Antonio, TX 78205, Mailing Address San Antonio (Bexar County) The development of Towne Twin Village, a planned permanent supportive housing community for chronic homeless seniors, is currently underway.