he money will go toward 14 affordable housing developments in the San Antonio area, including redeveloping the oldest public housing community in the United States.Author: Cameron SongerPublished: 7:56 PM CDT August 1, 2019Updated: 7:56 PM CDT August 1, 2019
SAN ANTONIO — The San Antonio Housing Authority announced Thursday that its board of commissioners approved $486 million to build and pursue financing for 14 affordable housing developments in the San Antonio area. Of the money, $44 million will go toward redeveloping Alazan Courts, the oldest public housing property in the U.S. The projects will take place over the next five years, David Nisivoccia, Opportunity Home President and CEO said in a press release.
Here’s a look at some of the planned construction:
- Culebra Crossing, a 326-unit rental housing development at the intersection of Culebra Road and Loop 1604. Half of the units will be made available at 50 percent of the area median income.
- Artisan at Ruiz, a 102-family unit development. All of the units will be reserved for rental to families earning 60 percent or less of the area median income.
- St. Mary’s Tower, a 24-story, 250-unit apartment building at the corner of La Villita and St. Mary’s streets.
- St. John Square, an eight-story apartment complex at the corner of South St. Mary’s Street and East Nueva Street. All 252 units will be reserved for families earning 50 percent of the area median income.
In a momentous occasion for the city’s largest affordable housing developer, the San Antonio Housing Authority Board of Commissioners approved $486 million to build and pursue financing for 14 affordable housing developments in the San Antonio area.
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The San Antonio Housing Authority (Opportunity Home) will issue bonds for some of the financing and is working with developers for other parts.
“We received a call to action from the Housing Policy Task Force to increase the affordable housing options in San Antonio, and I’m proud to announce we are fulfilling and even exceeding that promise,” Dr. Morris A. Stribling, DPM, Chairman of Opportunity Home’s Board of Commissioners said in a press release. “While Opportunity Home has always sought new innovative ways to finance new affordable housing developments, we are particularly overjoyed of the nearly half a billion in investments that today’s board decision vote means for the City of San Antonio.”