The complex at 425 San Pedro Ave. is a team effort between the city, San Antonio Housing Trust Public Facility Corp. and Opportunity Home.
Can you help us by taking a few minutes to fill out a survey? Your answers will give us critical insight into what you expect from the San Antonio Report. Construction of Four25 San Pedro, a low-income apartment complex geared toward homeless families, will soon be underway with an expected opening in late 2025.
After overcoming neighborhood opposition and state regulatory hurdles, as well as post-Covid economic headwinds, the complex got the green light last Friday from the San Antonio Housing Trust Public Facility Corp., or PFC, a nonprofit arm of the city which will buy the site to secure a crucial property tax exemption — only one out of a long list of public subsidies making the project possible.The $30.
“This will be the first of this type: It will be the first transit-oriented development that also includes a mix of permanent supportive housing and low-income housing,” he said. “The reality is that we need permanent supportive housing and affordable housing all over the city… I’m hoping that this proves as a model.”
It was redesigned to include only one-bedroom units because if it wasn’t oriented toward families it wouldn’t be subject to that regulation. But it then ran into opposition from residents of the nearby Five Points neighborhood who wanted more family units, leading the city to withdraw the tax credit application.
The city and the housing trust are building it in partnership with the local multifamily builder Franklin Development, which will manage it.for affordable housing projects, especially after rising interest rates and construction costs have strained budgets in recent years — including the following:• $17.
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