In the area of housing, it seems likely that the early 2020s will mark another turning point for San Antonio.
San Antonio Housing Trust
The area median income, or AMI, for the San Antonio-New Braunfels region has increased from $72,000 to $74,100 for a family of four.
The controversial Friedrich Lofts project on the East Side was approved Monday by the Housing Trust PFC board, which is composed of five City Council members, despite concerns of gentrification.
In mid-May, The Flats at River North, one of downtown’s largest mixed-use developments, began receiving its first residents.
The San Antonio Housing Trust and developer NRP Group are fielding offers to purchase the Cevallos Lofts, the 252-unit apartment building credited with spearheading growth in that area of Southtown since it was built in 2010.
Efforts by state lawmakers to rein in the use of public facility corporations, which provide lucrative tax breaks to developers building mixed-income apartment complexes, have remained under the radar at the Texas Legislature, with battles over voting and gun rights dominating the headlines.
The approval of an ordinance that would require future housing developments that receive city incentives to consider tenants with housing vouchers has been delayed by the City Council.
The proposed ordinance is intended to increase the housing options for low-income renters in San Antonio.
A growing number of advocates are demanding that the City of San Antonio stop using property tax exemptions to build housing, while Texas lawmakers have a similar debate in Austin.
The local developers behind a $56.1 million, 292-unit mixed-used project in Southtown are closer to starting construction thanks to a partnership with the San Antonio Housing Trust.