The $24 million incentive package that GrayStreet Partners and Midway received last month to redevelop the former Lone Star Brewery tops the list of San Antonio’s most subsidized urban development projects.
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.
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 Rinconcito de Esperanza cultural hub has received $1.5 million from the city to rehab seven historic homes into a community health center, an internet access point and a studio for recording oral histories.
However, there is little hope of Zachry Corp. breaking ground soon on the mixed-use development that will enclose the park.
Next up for the Hixon-Cavender partnership is a food-and-beverage market behind the recently-completed Soto office building on Broadway.
A $55.9 million mixed-used development on Broadway and Jones Avenue is likely to hold a city-backed incentives package worth $2.1 million.
Members of the HDRC earlier this week criticized the Broadway-facing facade of a 283-unit, monolithic apartment building co-developed by NRP Group and the San Antonio Housing Trust Public Facility Corp.