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San Antonio Housing Trust OKs Two Affordable Housing Projects
The San Antonio Housing Trust Facility Corp. (PFC) approved resolutions for two projects involving affordable housing on the city’s east side. The resolution approval for the Red Berry Estate Redevelopment and Friedrich Lofts means additional funding to assist with development.
The 85-acre Red Berry Estate at 856 Gembler Rd. is undergoing a $61.8 million redevelopment. NRP Group, Casey Development and the RK Group partnered with the PFC to create a 330-unit, mixed-income housing development, 169,000 square feet of office space and restoration of the Red Berry Mansion. The city is providing $6.7 million to facilitate workforce housing and job creation.
The 347-unit Friedrich Lofts, at 1617 E. Commerce, is structured in partnership with the PFC, and underwritten by the U.S. Department of Housing and Urban Development’s 221(d)(4) program. The city council approved a $2.3 million incentive package to assist with the redevelopment process. Provident Realty Advisors is the developer.
For comments, questions or concerns, please contact Amy Sorter
- ◦Financing
- ◦Development
