The city of San Antonio says it needs to help 95,000 residents struggling to get in safe, affordable housing. That’s the impetus to work with for-profit and nonprofit partners to implement a $150 million housing bond which local leaders and housing advocates said is a big part of long-term efforts to increase affordable housing.

San Antonio City Council approved a total of $38.5 million in housing bond proceeds and $5.31 million in various federal monies for 14 initial affordable housing projects citywide, including two new north side apartment complexes. The housing bond was part of the city’s voter-approved $1.2 billion bond in May 2022.

Mayor Ron Nirenberg said the housing bond complements the city’s 2021 long-range housing initiatives designed to grow the number of local inexpensive housing options for both unsheltered persons and what the city calls “housing cost-burdened residents.” According to U.S. Census Bureau data, 35% of San Antonio households spend more than 30% of their monthly income on a mortgage or rent.