The City Council on Thursday unanimously approved an incentives package worth $3.3 million for the five-story Museum Reach Lofts, a 94-unit development on the southeast corner of North St. Mary’s Street and West Jones Avenue, where rents will start at $290 for low-income individuals.
The Museum Reach Lofts, a rare affordable apartment project that nonprofit Alamo Community Group (ACG) is developing, was approved for a $2.8 million incentive this morning by the Midtown Tax Increment Reinvestment Zone board.
Bill Shown, managing director of Pearl developer Silver Ventures, said his group is “very interested” in building affordable housing as the development expands in the coming years.
On Tuesday, the Zoning Commission cleared the way for more expansion by rezoning 11 properties south and west of the Pearl, including the old Samuels Glass Co. and Fox Motel.
If you needed another reminder that “market rate” is another term for “luxury” in the downtown, take a jaunt to the Museum Reach and look at what has gone up next to the VFW Post 76 at Ninth Street and the San Antonio River. This is 120 Ninth Street, a 220-unit apartment building by Indianapolis-based […]
Every day at sunset, from April to October, 50,000 Mexican free-tailed bats leave their colony under I-35 at the Museum Reach to dine. Presumably, they go to the Pearl. In celebration of these winged creatures, the 6th annual Bat Loco Bash takes places 6-9 p.m. Tuesday at the Museum Reach, 1300 Camden St. Or, find […]
The Alamo Community Group (ACG), a local nonprofit developer of affordable housing, today closed on two properties on which rare downtown affordable housing will be built. The $17.5 million project, known as the Museum Reach Lofts, totals 94 units and will sit on a .6-acre piece of land on the southeast corner of North St. […]
The Museum Reach Lofts, a project near the Pearl that’s currently in the works, may sound like downtown’s latest luxury apartments. Look closer and you’ll find these envisioned dwellings are an anomaly of sorts for the center city: they’re affordable. Like, for real. Alamo Community Group, a local nonprofit developer and operator of affordable housing […]