With construction costs and interest rates soaring, San Antonio developers are struggling to make the numbers work for their affordable housing projects.
People now living at The Flats at River North on Broadway
In mid-May, The Flats at River North, one of downtown’s largest mixed-use developments, began receiving its first residents.
San Antonio Housing Trust, NRP Group look to sell Cevallos Lofts
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.
Two bills to reform PFCs, which provide tax breaks to developers, make progress in Legislature
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.
Tax breaks for developers under scrutiny in San Antonio, Texas capitol
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.
Hemisfair’s Civic Park construction now scheduled to begin this fall
However, there is little hope of Zachry Corp. breaking ground soon on the mixed-use development that will enclose the park.