The San Antonio Housing Authority (Opportunity Home) and partner NRP Group received a 9% tax credit from the Texas Department of Housing and Community Affairs for construction of Alazan Lofts on San Antonio’s near west side. The tax credit will ensure that the 88-unit, mixed-income housing project will be fully funded.
Alazan Lofts will be built at South Colorado and El Paso Streets, adjacent to the Alazon Courts. Half the units will be public housing, eight will be market-rate apartments and the remainder allocated for renters earning a fraction of the area’s median income. While the project is still in design phase, Opportunity Home said it expects to break ground in Q2 2020.
The development comes on the heels of San Antonio’s push to increase affordable housing in the city. The city council voted in 2018 to approve a new affordable housing framework.