**The Annex Group Launches $91M Mixed-Income Housing Project in San Antonio**
The Annex Group is set to develop a $91 million mixed-income housing community in San Antonio, leveraging a combination of loans, tax credits, and municipal grants. The new development, named Central at Commerce, will be located at 1231 E. Commerce Street and feature 279 residential units.
The apartment community will offer one- to three-bedroom units, with rents targeted at tenants earning between 30% and 70% of the area median income (AMI), making it a key component of the city’s push to expand affordable housing.
According to the San Antonio Business Journal, the developer is applying for 4% low-income housing tax credits through the Texas Department of Community Affairs. Over a 10-year period, the project could receive up to $41 million in tax credit funding. Additionally, the group qualifies for $6 million in gap financing from San Antonio’s 2022 affordable housing bond—a fund designated to support developments addressing critical housing needs in the city.
Construction is scheduled to begin in 2025. The Annex Group is a housing developer known for building market-rate, workforce, affordable, and student housing communities across the U.S.
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**Event Details:**
**Event:** Connect Texas Multifamily
**Date:** Thursday, August 28
**Venue:** The Joule, Dallas
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