Housing Bond Projects Approved to Build, Preserve 711 Affordable Homes

Published on June 27, 2024

SAN ANTONIO (June 27, 2024) – The San Antonio City Council has approved four affordable housing projects to receive $17.2 million in funding from the $150 million Affordable Housing Bond. 

Together, the projects will collectively produce or preserve 929 homes, of which 711 are affordable for families at or below 60 percent of the Area Median Income (AMI), and 424 are deeply affordable for families at or below 50 percent AMI, which is $39,850 a year or less for a family of three.

Approval of this latest round of funding means the Affordable Housing Bond has now invested in 4,344 new and preserved homes that provide a range of affordability options, focused on producing homes in alignment with the City’s San Antonio’s Strategic Housing Implementation Plan.

“The affordable housing bond continues to make critical investments in projects that will preserve our housing stock, create new housing options and deliver additional homes to serve our most vulnerable neighbors,” Mayor Ron Nirenberg said. “This action marks an additional milestone in our mission to create a city where everyone can find a place to call home.”

This latest round of funding includes projects that not only provide affordable housing but also support historic rehabilitation, as well as permanent supportive housing (PSH) for people experiencing homelessness. The Preserve at the Port project leverages bond funding with historic tax credits to ensure that 36 of the 360 units are for families at 30 percent AMI or less and also ensures the project remains affordable for 40 years. The funding for PSH projects includes the third phase of Towne Twin Village, adding 80 new permanent supportive homes with on-site services to help people stay housed.

Projects being funded were evaluated on many criteria adopted by City Council including project readiness, ensuring units can be built as quickly as possible. 

“San Antonio continues to lead with urgency and care to increase our city’s affordable housing options,” City Manager Erik Walsh said. “By investing in housing, we are investing in the stability and future of families and our community.” 

The City also prioritized funding for projects that provided the deepest affordability, offered meaningful resident services, and that are located near public transportation. 

“We need affordable housing in all areas of the city as soon as possible, and we also want to ensure the selected projects support the residents and surrounding community,” Veronica Garcia, Director of the Neighborhood and Housing Services Department said. “The awarded projects will provide job training, food and wellness programs, plus connections to public transportation, ensuring residents have ongoing support beyond housing stability.” 

To date, the Housing Bond, leveraged with other funding sources, has supported a total of 24 projects. A total of 4,344 homes have been produced or preserved. Of those homes, 1,192 provide the deepest affordability for families at 30 percent AMI or below and 322 are permanent supportive housing to support those experiencing homelessness. 

Awarded Projects

Rental Housing Production and Aquisition

Palladium San Antonio

• Council District: 4
• Developer: Palladium USA International, Inc. 
• Resident Services: Food pantry, school supply giveaways, scholarship programs, health and wellness programs, income tax preparation, resume building, financial planning, notary services and after school programs.

Affordability

Rental Housing Acquisition, Rehabilitation, and Preservation

The Preserve at the Port

• Council District: 5
• Developer: Port SA Redevelopment, LP
• Resident Services: Ready to Work initiative to support employment and skills development, partnership with the San Antonio Museum of Science and Tech to bring learning experiences, community events and affordable high-speed internet.

Affordability

Permanent Supportive Housing

Towne Twin Village (Phase 3)

• Council District: 2
• Developer: Housing First Community Coalition, Inc. 
• Resident Services: Medical clinic, behavioral health services, food pantry, therapy services, dental clinic and on-site case workers.
• Affordability: 80 Permanent Supportive Housing Units

The Commons at Acequia Trails

• Council District: 3
• Developer: San Antonio Metropolitan Ministry, Inc. (SAMMinistries)
• Resident Services: Medical clinic, behavioral health services, food pantry, therapy services, dental clinic, workforce development and on-site case workers.
• Affordability: 201 Permanent Supportive Housing Units