Ground was broken on a new apartment complex with the aim to help working class families in San Antonio.
Hundreds of apartment units will be available to families who need it most. Public leaders say they are excited about the private investment in this project.
“There are families struggling to find housing right now. And when you can get to an apartment complex that’s rent and income-restricted, built to have rents affordable to them, that family can thrive,” said Pete Alanis, executive director of the San Antonio Housing Trust.
The housing trust is one of the groups making the Crosswinds Apartment Homes a reality.
312 affordable housing units will be available to help people earning 30 to 60% of the area median income (AMI).
For perspective, a family of four making anywhere between $22,000 to $44,000 a year would be able to afford the apartments being built here.
On Monday, a groundbreaking event was held after the apartments received a $15.3 million investment from CVS Health.
District 10 Councilman Clayton Perry says private investment is a key part of creating affordable housing.
“We shouldn’t put all this on the taxpayer. This is actually the community and businesses that are joining forces to providing affordable housing units, and that’s the way it really should work,” Councilman Perry said.
The complex located off of Loop 1604 in between Bulverde Road and O’Connor Road is nestled into a rapidly growing area of town, Perry says.
“If you drive across 1604 on the northside, you will see development after development,” Perry said.
Alanis hopes this new complex means that development is equitable for all families.
“For those families who go in work in all the businesses seeing that growth, we have to make sure there’s enough supply,” Alanis said.
The development will consist of 13 three-story residential buildings providing one, two and three-bedroom housing units.
Alanis estimates the apartment units could be available to lease by 2024.
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