With construction costs and interest rates soaring, San Antonio developers are struggling to make the numbers work for their affordable housing projects.
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.
The cost to build Cattleman Square Lofts has ballooned by $6 million since January.
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.
Over the past few months, San Antonio’s Housing Commission has worked to craft a universal definition of “affordable housing.”
In the area of housing, it seems likely that the early 2020s will mark another turning point for San Antonio.
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.
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.
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.