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SA Hotel Converting to 220 Apartment Units
The San Antonio Housing Trust is working with GoodHomes Communities to convert an urban core hotel to residential use. The San Antonio Business Journal reports the team wants to convert the Sonesta ES Suites at 425 Bonham to The Whitney, a 220-unit apartment complex.
The Housing Trust is launching a targeted effort to acquire and convert extended-stay hotels to accommodate more permanent residents. Due to larger layouts and kitchenettes, extended stay hotels are favored by the trust over standard hotel rooms.
The agreement suggests the property could sell for about $59.5 million after 10 years as a multifamily property. About half of the units would be reserved for tenants making 40% to 80% of the area median income (AMI), with the rest at market rate.
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Jameson St Apartments
Weatherford, TXTexas + Apartment Buildings
Learn MoreListing Status: Available Listing Type: Highest & best offer Price: $5,160,000 No. of Units: 60 Average Occupancy: 98 Year Built: 1973 Building Size: 44700 Sq ft Lot Size: 4.05 Acres No. of Stories: 2 APN: R000047582 No. of Parking Spots: 100 Opportunity Zone: No Price per unit: $86,000 
3801 E MORELAND DR
WESLACO, TXTexas + Apartment Buildings
Learn MoreListing Status: Available Listing Type: Call for offers Price: $7,500,000 No. of Units: 78 Year Built: 2005 Lot Size: 77325 Acres Opportunity Zone: No Price per unit: $96,153
