From Next City:
Over the next 25 years, San Antonio is expecting to welcome a million new residents, an influx of people that would expand its population by about two-thirds. And while rent in the city is still relatively cheap, more than 40 percent of renters are cost burdened, paying more than 30 percent of their income for housing. In anticipation of the influx and a worsening market for renters, the San Antonio Housing Authority is planning to spend close to half a billion dollars on new mixed-income projects in the coming years.
The $486 million funding package was approved at a SAHA board meeting earlier this month. The money will go to support a range of projects, including a 326-unit apartment building with half the units reserved for renters earning up to 50 percent of the area median income, a 252-unit complex entirely reserved for residents earning up to 50 percent of AMI, and a 102-unit project reserved for families earning up to 60 percent of AMI. Also in the works is a plan to remake the 80-year-old Alazan Courts, the oldest public housing project in San Antonio and one of the oldest in the country. Most of the projects will be carried out in partnership with nonprofit and private developers. In all, the funding will help support around 3,500 units of housing, according to the Rivard Report, a local nonprofit news outlet.
Read Next City's article "San Antonio Housing Authority Planning Big Investment in Mixed-Income Housing."