District 4 Councilwoman commends Council approval of Patriot's Pointe
Published on April 07, 2022
SAN ANTONIO (April 7, 2022) – Today, City Council approved a Resolution of No Objection for Patriot’s Pointe, LP’s application to the Texas Department of Housing and Community Affairs (TDHCA) for the Non-Competitive 4% Housing Tax Credits program. The proposed project, Patriot’s Pointe, is comprised of 320-unit affordable multi-family rental housing development located at the intersection of Jaguar Parkway and South Zarzamora.
“Patriot’s Pointe was one of the first projects discussed at the start of the year when I began the term as SAHT President and under the new governance realignment,” commented Councilwoman Rocha Garcia, “Thanks to the City Council and members of the San Antonio Housing Trust and City staff for vetting and supporting projects that will help usher a new era of affordable, inclusive and accessible housing options for residents.”
The value of the TDHCA tax credit award to the Patriot’s Pointe would be approximately $23.6 million over a ten-year period. The total cost for this development will be approximately $61.6 million. All 320 units will be rent restricted to 60% and below of area median income (AMI) as defined by TDHCA’s Rent and Income Limit tool using HUD data.
If the 4% HTC application is approved by the TDHCA Governing Board, the estimated start date will be in August 2022 and the estimated completion is March 2024.
This affordable, veteran-focused community near Texas A&M – San Antonio will include a partnership with Operation Finally Home to offer a range of onsite wraparound services. These services will focus on trauma-informed care, medical education training assistance, retirement transitional programs, financial accountability, vocational training, job placement, childcare, with on-site case managers and support staff to ensure each individual and family receive the continuum of care they deserve to become fully restored.
Patriots Pointe will be designed to be 100% adaptable, advancing full access and inclusion for all with architectural plans that demonstrate the developer’s commitment to making a difference in the lives of returning veterans in their transition to civilian life.