City of San Antonio Receives Funding for 14 New Affordable Housing Projects
The City of San Antonio is set to receive $32.1 million from a local housing bond and some federal grants, which will be used to build 14 new affordable housing projects, the San Antonio Report says. If approved, the funding will go toward building or rehabilitating more than 2,100 housing units over the next several years.
A citizen-led committee last year proposed spending guidelines for the housing bond that would prioritize San Antonio’s most cost-burdened and low-income populations. The City Council is slated to vote on the most recent batch of projects on June 8.
Nearly 20% of the housing units to be built or preserved with this batch are considered affordable to someone earning 30% of the area median income (AMI). For an individual, that’s about $17,500; for a family of three, it’s about $25,000. Households earning 80% of AMI, which for an individual is about $46,700, would be eligible for the homeownership opportunities.
This is the third batch of housing bond money and federal funding to be allocated. The first $44 million batch, which also included apartment construction and homeownership opportunities, was awarded in December. The second was approved last month and partially funded three different permanent supportive housing projects for people experiencing homelessness.