This month, crews are scheduled to begin the environmental abatement process on the ruinous Friedrich industrial site, preparing it for the mixed-income 358-unit Friedrich Lofts by 2025.
San Antonio Housing Trust
The owners of the Exchange Building, which includes the San Antonio Housing Trust Foundation, are preparing to sell the Prohibition-era building to a local buyer.
The San Antonio Housing Trust has introduced a new housing model that benefits the public more than developers, it says.
In the area of housing, it seems likely that the early 2020s will mark another turning point for San Antonio.
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.