The design for St. John’s Square, a $65 million, 251-unit project near La Villita, received approval from the Historic and Design Review Commission on Wednesday, under the condition the architect, Mark Odom Studio of Austin, work on lessening the contrast color-wise between the base and the body. The eight-story apartment building will be located on the southeast corner of South St. Mary’s and East Nueva streets, and is a partnership between Austin developer Dennis McDaniel, who built the Steel House Lofts, and the San Antonio Housing Authority.
McDaniel did not grant an interview for this update.
After the vote, Mari Michael Glassell, studio director at Mark Odom Studio, said construction is expected to begin in May and take 22 months to complete.
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St. John’s Square info
» Address: 410 E. Nueva St.
» Developer: Dennis McDaniel (aka Weal Development LLC of Austin); San Antonio Housing Authority; 99-year ground lease
» Property owner: St. John’s Evangelical Lutheran Church
» Type: Housing with retail
» Height: 8 stories
» Units/square feet: 251 units; 6,000 s.f. retail
» Rental type: 201 units market-rate; 50 units for households making 50% of the area median income (AMI; scroll down for AMI figures by household size).
» Land size: 1.3 acres
» Cost: $65 million
» Investors/financing: Undisclosed
» Incentives: $50 million in 4% tax-exempt bonds reserved by Texas Bond Review Board for Las Varas PFC (aka SAHA); $4.4 million (over 10 years) in 4% low-income housing tax credits; $3.2 million from San Antonio’s Center City Housing Incentive Policy (view CCHIP agreement)—$2.3 million in rebates for city property taxes over 15 years, $624,305 fee waivers; $300,000 forgivable loan.
» Rate of return on investment: Undisclosed
» Construction start date: May 2020
» Completion date: Summer 2022
» Architect: Mark Odom Studio (Austin)
Aug. 22, 2019
City Council unanimously backs the McDaniel-SAHA partnership and its pursuit of 4% low-income housing tax credits. At the City Council meeting, we also learn the project’s price: $65 million. Read more.
March 20, 2019
Without discussion, the Historic and Design Review Commission (HDRC) grants approval to the St. John’s Square project. New details emerge: 50 units—or 20% of the 251 total units—will be reserved for people who make 50% of the area median income. The rest are presumably market-rate. Read more.
Aug. 2, 2018
In the first public discussion of St. John’s Square, the San Antonio Housing Authority board of commissioners votes to pursue 4% low-income housing tax credits for the project. The basic figures—eight-story development, 250 apartments, upwards of $50 million to build—are released. The Law Offices of Nicholas & Barrera, the only standing structure on the lot, which sits on the corner of South Presa and East Nueva streets, will not be demolished.
McDaniels signs 99-year lease with St. John’s Lutheran Church on the property at 410 E. Nueva St. As part of the agreement, the church will receive some of the parking spaces.
After Steel House Lofts becomes a for-sale property, SAHA President and CEO David Nisivoccia purchases a unit and soon meets McDaniel. Nisivoccia pitched the idea of a partnership between SAHA and McDaniels’ company Weal Development. SAHA’s involvement would bring affordability, i.e. workforce housing, to the project.
Austin developer Dennis McDaniel meets Oliver Gunnels, who manages the parking lot at the southeast corner of East Nueva and South St. Mary’s streets, owned by St. John’s Lutheran Church. Gunnels connected McDaniel with church officials who asked him to build a parking garage on the lot. McDaniel proposed adding apartments to the garage concept. Read more.
|Area Median Income (AMI) by limit and household size|
|1 person||2 person||3 person||4 person||5 person||6 person||7 person||8 person|
|Area Median Income||$49,700||$56,800||$63,900||$71,000||$76,680||$82,360||$88,040||$93,720|
The area median income (AMI) for a family of four in the greater San Antonio area (Bandera, Bexar, Comal, Guadalupe and Wilson counties) is $71,000, according to the U.S. Department of Housing and Urban Development.