A historic 100-year-old concrete building in San Antonio is undergoing a transformation into senior housing. The former National Grocer Company site will soon become the Grocer Lofts, a 48-unit project led by American Agape Foundation and Partners in Community Development.
According to reports from the San Antonio Business Journal, the team plans to seek financial assistance for the project through Texas Department of Housing and Community Affairs’ 9% housing tax credits.
The property has been owned by Austin-based real estate firm Sabot Development for several years. It was listed for sale at $6.2 million but remains under Sabot’s ownership.
Constructed in 1919, this approximately 70,000 square foot building boasts solid concrete construction typical of its time period. It is unclear whether or not historic tax credits and other incentives will be utilized by the development team to preserve its unique character.
