Texas CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Pedcor Planning $100M SA Affordable Rental Project
Pedcor Companies is planning a 336-unit apartment complex in the Stone Oak area. Expected to be called, Stones Crossing, the project will be co-developed in partnership with the San Antonio Housing Trust and is expected to cost $101.6 million.
The company still needs the city’s support for 4% Low Income Housing Tax Credits from the Texas Department of Housing and Community Affairs. Additionally, Pedcor is seeking $36.6 million in tax credits. The apartments will be offered at a 40% reduction of the area market rent. The San Antonio Business reports its 96 one-bedroom units would rent for an estimated $979, the 180 two-bedroom units would go for $1,176 and the 60 three-bedrooms would rent for $1,356.
San Antonio City Council is expected to approve the measure at its Jan. 11 meeting. If the team is awarded the tax credits on schedule, Stones Crossing is targeted for completion in June 2027. Pedcor has a similar project underway a few miles away (in photo).
