CONTACT: Edith Merla, Office (210) 207-5462
SAN ANTONIO (Jan. 30, 2020) - Today, City Council voted to invest more than $11 million in federal and local funds to establish more affordable housing options for working families. This action will develop 415 housing units for households that are at or below 80% of the Area Median Income (AMI). In addition, Council approved the funding of 119 proposed single-family housing units available for homeownership to households at 120% or below the AMI.
“These affordable housing units for working families highlight the importance of everyone participating in the 2020 Census,” said Mayor Ron Nirenberg. “The federal grant funds awarded to San Antonio by the Community Development Block Grants and HOME investment partnerships are calculated in part by the population of our region. I am glad to see us leverage these grants with our City programs to make more affordable housing units available to families. These developments show great progress in the policies established by the Mayor’s Housing Policy Task Force.”
Funding for these projects is leveraged from federal Community Development Block Grant (CDBG), HOME Investment Partnerships (HOME) and Affordable Housing Fund (AHF) grants, as well as investments from the City’s Inner City Incentive Fund and City fee waivers.
“Today’s Council action demonstrates how layering city policies and funding options can create new opportunities for our residents while getting us one step closer to our community’s housing goals,” said District 1 City Councilman Roberto C. Treviño.
One of the five affordable rental developments is Alazan Lofts, located at El Paso Street and S. Colorado. This is an 88 unit rental housing development in Council District 5 and affordable rents for a two-bedroom unit are estimated to be $958.00 for households earning 60% of the AMI. The remaining rental developments include housing for seniors, the rehabilitation of a rental housing development and new construction rental properties.
One of the homeownership developments is a partnership with Habitat for Humanity. They will construct Watson Road Phase I, located at 13801 Watson Rd in Council District 4. The development will produce 53 housing units for households at 80% or below of the AMI. The sales price for a three bedroom, two-bath single-family 1,050 square foot home is just under $90,000.
City Council also approved the negotiation and execution of a Chapter 380 Economic Development Forgivable Loan Agreement for up to $282,225 to SOJO Commons II, LP. The development reserves 15 units for families earning below 120 percent of the AMI out of its total 48 for-sale townhouse and condominiums. It is the first new mixed-income homeownership project in the Midtown area. It is located on Locust and Grayson streets near the Pearl.
“These developments will provide families with affordable options, whether they are looking to rent or invest in owning a home,” said Assistant City Manager Lori Houston. “The City’s ability to leverage federal funds with our fee waiver and incentive programs has spurred more affordable housing developments for our residents.”
All projects are slated for completion by June 2023.