SAHA Begins Plans to Build 1,000 New Affordable Housing Units

SAHA Begins Plans to Build 1,000 New Affordable Housing Units

SAHA Begins Plans to Build 1,000 New Affordable Housing Units

August 13, 2020

The San Antonio Housing Authority (SAHA) Board of Commissioners approved Aug. 13 the inducement of tax exempt bonds and the submission of applications for the Non-Competitive (4%) Housing Tax Credit program to finance three new affordable housing developments for the city of San Antonio.

The proposed developments will bring nearly 1,000 new affordable housing units to the San Antonio rental market, supplementing the nearly 4,000 units approved in August 2019.

SAHA will submit applications for the Watson Road Project, Copernicus Apartments and the Buckhorn Lofts. All projects are proposed with the NRP Group, a leading developer who has partnered with SAHA on several projects including San Juan Square, Costa Valencia, the Mirabella and, most recently, The Legacy at Alazan.

“The agency is in the midst of transformative change by building nearly $1 billion in new, modern, affordable housing developments to meet the housing demand in our city and ensure residents can pay reasonable rent, we’re excited to bring the city the quality and affordable housing it deserves.” said David Nisivoccia, President and CEO of SAHA and a Commissioner on the city’s Housing Commission.

The Watson Road Project is a 345-unit project proposed by the NRP Group to be located at the northeast corner of Watson Road and Somerset Road. It is proposed to contain 35 units at 40% of the area median income and below, 275 units at 60% of the area median income and 35 units at 70% of the area median income. All units will have restricted rent and must accept Housing Choice Vouchers, or what is colloquially known as Section 8 vouchers.

The Copernicus Apartments Project is a 324-unit project proposed by the NRP Group to be located at approximately 439 SE Loop 410. Copernicus is proposed to contain 32 units at 40% of the area median income and below, 65 units at 50% of the area median income, 129 units at 60% of the area median income and 98 units at 70% of the area median income. All units will have restricted rent and must accept Housing Choice Vouchers.

The Buckhorn Lofts project is a 324-unit project proposed by the NRP Group to be located at approximately 10805 N Loop 1604. It is proposed to contain 32 units at 40% of the area median income and below, 260 units at 60% of the area median income and 32 units at 70% of the area median income. All units will have restricted rent and must accept Housing Choice Vouchers.