With construction costs and interest rates soaring, San Antonio developers are struggling to make the numbers work for their affordable housing projects.
The city of San Antonio is preparing to disburse nearly $44 million to housing developers and landlords for the production of 686 apartments, the repair of another 1,775 units, and the construction of 71 single-family homes.
Houston developer Urban Genesis says it’s on schedule to start construction on its holdings on and off North St. Mary’s Street—overall, a $45 million series of developments for a total of 178 market-rate apartments—by first quarter 2023.
The Pearl’s development company is moving forward with plans to build a 9-story mixed-use structure, which would include 250-275 market-rate apartments, on a full city block bound by East Josephine, Isleta, East Grayson and the river.
Developer Jake Harris is planning to build a 1,000-apartment project West Josephine that would also touch the St. Mary’s Strip. If built, it would add the flurry of new housing developments either under construction or in the planning stage for Tobin Hill.
New Hemisfair renderings show a 29-story, 360-unit apartment tower with a 7-level parking garage and 25,000 square feet of retail space on East Market Street. The plans are up for review this week.
Opportunity Home San Antonio has applied for $8 million from San Antonio’s housing bond for a new public housing development at Alazan-Apache Courts.
Local TikTok personality Christine Ahuyon has found few options when it comes to affordable housing that’s also made for those with disabilities.
Earlier this month, the Bexar County Commissioners Court agreed to begin negotiations with Broadway SA Investors GP, LLC, a company affiliated with Pearl Build, on a 10-year tax abatement for a 263-unit apartment project.
Today, the City of San Antonio is due to formally begin the process of finding developers to build and preserve apartments, and build houses, as part of the $150 million housing bond.