Last week, The San Antonio Housing Trust Public Facilities Corporation (PFC) and Houston-based developer The Morgan Group formed a partnership agreement. According to the San Antonio Business Journal, this arrangement exempts the developer from certain property taxes ($756,000) in exchange for increasing affordable housing units within their properties and collaborating with tenant-focused city services.
The two projects – Caroline at Salado Creek and Caroline at Sonterra – are expected to cost $72 million combined for construction. Located east of the planned San Antonio Arboretum is where you’ll find Salado Creek while Sonterra will be situated near East Sonterra Boulevard’s intersection with Loop 281.
Of 359 total units planned for Salado Creek, half will be designated as affordable housing options; 126 set aside as 80% of area median income (AMI), 37 as 60% AMI and 18 reserved at 50% AMI level accordingly. A similar mixture applies to 301 units slated for Sonterra development too – recently beginning its tenant acceptance process (see photo).
