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Texas  + San Antonio  + Apartments  | 
Morgan Group trading tax credits for affordable rent mandate in SA

Morgan Group Trades Affordable Housing Mandate for Tax Exemptions

The San Antonio Housing Trust Public Facilities Corporation (PFC) struck a partnership agreement with Houston-based developer The Morgan Group last week. The San Antonio Business Journal reported the agreement exempts the developer from some property taxes ($756,000) in exchange for increasing the number of affordable units in the properties and collaboration with tenant-focused city services.

Both projects — Caroline at Salado Creek and Caroline at Sonterra — are expected to cost $72 million to build. The Salado Creek project is coming to the Brooks area, just east of the planned San Antonio Arboretum. The Sonterra development is being planned for a spot near the intersection of East Sonterra Boulevard and Loop 281.

Of the 359 units planned for Salado Creek, half of those are earmarked as affordable. One hundred twenty-six units will be restricted to 80% of the area median income, 37 units will be 60% AMI and 18 units will be 50% AMI.

That same mixture applies to the 301 units slated for Sonterra. Morgan’s Caroline at Longhorn Quarry recently started accepting tenants (see photo).


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About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

  • ◦Development
  • ◦Policy/Gov't
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