San Antonio Divvies Out Bond Money for Three Multifamily Developments
The San Antonio Housing Trust Public Facility Corporation (PFC) approved issuing up to $111 million in multifamily housing revenue bonds for three mixed-income projects. The San Antonio Business Journal reports the awards partially fund the projects.
Up to $43 million of those bonds will go toward the Palladium Crestway project from Palladium USA. Planned for the Northeast Side, it would create 270 affordable units, all of which would be offered at 60% area median income (AMI).
Another $43 million would help fund Leon Creek Flats, in development from Macerich. The affordable project would also restrict its 312 units to 60% AMI.
Just west of downtown, nonprofit Alamo Community Group’s Cattleman Square Lofts project is earmarked for $25 million of the bonds. All of its units will be on the AMI scale, with 21 of them marked for 30% AMI.
As part of the issuance, the Housing Trust PFC becomes a general partner with Cattlemen and Leon Creek.
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.