With construction costs and interest rates soaring, San Antonio developers are struggling to make the numbers work for their affordable housing projects.
San Antonio Housing Authority
The city of San Antonio is preparing to disburse nearly $44 million to housing developers and landlords for the production of 686 apartments, the repair of another 1,775 units, and the construction of 71 single-family homes.
Opportunity Home San Antonio has applied for $8 million from San Antonio’s housing bond for a new public housing development at Alazan-Apache Courts.
Today, the City of San Antonio is due to formally begin the process of finding developers to build and preserve apartments, and build houses, as part of the $150 million housing bond.
The San Antonio Housing Authority is hosting a design workshop for the Alazan Courts redevelopment on the near West Side, San Antonio’s oldest public housing community that could be demolished and rebuilt, or refurnished.
How San Antonio’s discussion on housing costs has evolved from the Decade of Downtown to the pandemic-era shortage.
If the $150 million housing bond passes, it will greatly expand the city’s role in creating and preserving affordable housing, but it’s not entirely unprecedented.
The San Antonio Housing Trust has introduced a new housing model that benefits the public more than developers, it says.
An Austin developer and St. John’s Evangelical Lutheran Church are moving forward with plans to build St. John’s Square, a 253-unit apartment building near La Villita, despite the San Antonio Housing Authority backing away from the project.
Newstream Capital, from a northern suburb of Fort Worth, bought two properties on Villita Street, across from the Tower Life Building. The firm is still deciding what to build on them.