SA Apartment Developer IDs Multiple Funding Sources

The Annex Group is building a $91 million mixed-income housing project in San Antonio, with the help of loans, tax credits and grants. The 279-unit Central at Commerce, at 1231 E. Commerce St, will have one- to three-bedroom units with rents between 30% and 70% area median income.

The San Antonio Business Journal reports the Annex Group is applying for 4% in low-income housing tax credits with the Texas Department of Community Affairs. The group is applying for $41 million in tax credits over a 10-year period. The group also qualifies for $6 million in gap funding from the city’s 2022 affordable housing bond.

Construction is slated to begin next year. The Annex Group is a housing developer that creates market-rate, workforce, affordable and student housing communities. 

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