Pedcor Companies, in partnership with the San Antonio Housing Trust, is set to develop a 336-unit apartment complex in the Stone Oak area. The project, named Stones Crossing, has an estimated cost of $101.6 million.
To secure funding for this development, Pedcor is seeking support from the city and applying for 4% Low Income Housing Tax Credits from the Texas Department of Housing and Community Affairs. Additionally, they are requesting $36.6 million in tax credits to make these apartments available at a reduced rate of 40% compared to market rent prices.
According to reports by San Antonio Business Journal , Stones Crossing will offer one-bedroom units at an estimated rent of $979 per month while two-bedroom units will be priced at $1,176 per month and three-bedroom units at $1,356 per month.
The City Council is expected to approve this proposal during their meeting on January 11th. If all goes as planned and Pedcor receives the necessary tax credits on schedule,the completion date for Stones Crossing is targeted for June 2027.The company also has another similar project currently underway just a few miles away (as seen in photo).
