{"id":250199,"date":"2026-04-15T01:44:07","date_gmt":"2026-04-15T01:44:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-tx\/250199\/"},"modified":"2026-04-15T01:44:07","modified_gmt":"2026-04-15T01:44:07","slug":"how-will-new-east-side-apartments-stay-affordable-in-the-face-of-growth","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-tx\/250199\/","title":{"rendered":"How will new East Side apartments stay \u2018affordable\u2019 in the face of growth?"},"content":{"rendered":"

SAN ANTONIO \u2013 A few blocks from the Alamodome and St. Paul\u2019s Square, a seven-story housing community is under construction.<\/p>\n

Despite being within walking distance of the city\u2019s planned sports and entertainment district, known as Project Marvel, housing officials said Central at Commerce will remain affordable.<\/p>\n

The Annex Group, an Indiana-based housing developer, has partnered with Opportunity Home San Antonio on the development at 1231 East Commerce St., which is also supported with City of San Antonio bond dollars.<\/p>\n

All 279 units will be reserved for people making less than 30% to 70% of the area median income.<\/p>\n

\u201cSo in San Antonio, a family of three making less than $26,000 a year could afford to live here. Just blocks from the Alamodome, from Sunset Station, Historic St. Paul Square, and the Amtrak Station,\u201d said Veronica Garcia, director of the San Antonio Neighborhood and Housing Services, to a crowd during a groundbreaking ceremony Tuesday morning.<\/p>\n

An Opportunity Home web page<\/a> lists the project as a \u201c$107 million investment in affordable housing opportunities.\u201d However, staff provided KSAT with a separate information sheet that listed the project costs at $86.1 million.<\/p>\n

Part of the project funding \u2014 $6 million \u2014 comes from the City of San Antonio\u2019s 2022 housing bond.<\/p>\n

Garcia said the project\u2019s location made it important for the city to invest some of those bond dollars. The site is by VIA Metropolitan Transit\u2019s planned Silver Line, and 42 of the units are reserved for people at the lowest income levels \u2014 just 30% AMI.<\/p>\n

\u201cWe want to ensure that as our city grows, that we also consider the families who have been here a long time and that want to live near our growing downtown area,\u201d she said.<\/p>\n

That bond money, as well as tax credits rolled up in the project financing, come with strings that require the project to maintain affordability for 30 years, and Michael Reyes, president and CEO of Opportunity Home, said his group also has an option to acquire the property.<\/p>\n

\u201cAfter 15 years, we take ownership of that property, and it goes into our nonprofit portfolio called \u2018Affordable Housing Communities,\u2019\u201d Reyes told KSAT. \u201cAnd at that point, we ensure it stays affordable forever.\u201d<\/p>\n

Construction is expected to last another two years, with Central at Commerce opening in 2028.<\/p>\n

Read also: <\/p>\n

Copyright 2026 by KSAT – All rights reserved.<\/p>\n","protected":false},"excerpt":{"rendered":"SAN ANTONIO \u2013 A few blocks from the Alamodome and St. Paul\u2019s Square, a seven-story housing community is…\n","protected":false},"author":2,"featured_media":250200,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[1500,1494,96,3222,26235,3083,82,84,83],"class_list":{"0":"post-250199","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-san-antonio","8":"tag-affordable-housing","9":"tag-construction","10":"tag-east-side","11":"tag-housing","12":"tag-opportunity-home-san-antonio","13":"tag-project-marvel","14":"tag-san-antonio","15":"tag-san-antonio-headlines","16":"tag-san-antonio-news"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/250199","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=250199"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/250199\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/250200"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=250199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=250199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=250199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}