It\u2019s one of four new apartment complexes the company is opening this summer. Blake Hopkins, vice president of regional projects in Texas for Lincoln Avenue Capital, says the developer has been anticipating additional growth on the South Side.<\/p>\n
Local officials who spoke at the ribbon cutting last week lauded the appearance of the apartments. Units had polished granite countertops, stainless steel appliances and come with washers and dryers. <\/p>\n
Low-income folks deserve to have quality homes, said Councilman Edward Mungia (D4) who represents the area. \u201cIt feels great. This is such a quality product.\u201d<\/p>\n
![\"\"](\"https:\/\/www.newsbeep.com\/us-tx\/wp-content\/uploads\/2026\/05\/IMG_7347.jpeg\")
An apartment available for tours at Leon Creek Flats. Lincoln Avenue Capital held a ribbon cutting Leon Creek Flats, an affordable housing complex on Holm Road near Pearsall Park, on May 12, 2026. Credit: Jasper Kenzo Sundeen \/ San Antonio Report<\/p>\n
Leon Creek Flats has 47 units set aside for people making less than 30% of the area median income. The rest are for people making up to 60% of the area median income. That\u2019s $26,650 and $52,200, respectively, for a family of three.<\/p>\n
It\u2019s the latest, but by no means the last, affordable housing development to hit South San Antonio. The $64.9 million project is using a $2.5 million loan from the city\u2019s affordable housing bond, along with federal Low-Income Housing Tax Credits (LIHTC).<\/p>\n
The 2022 Affordable Housing Bond<\/a> will wind down next year, but for now its funds are still being used for projects nearby, like the 288-unit Palladium at VIDA, and for new affordable apartments across the South Side. <\/p>\n Half of the 12 new apartment complexes built using the housing bond<\/a> will be in San Antonio\u2019s southernmost council districts in District 3 and District 4.<\/p>\n That wasn\u2019t planned, said Ian Benavidez, deputy director of the city\u2019s Neighborhood and Housing Services Department (NHSD). Projects are scored based on how they meet housing bond priorities, like proximity to jobs, transportation and green space. Those new apartment proposals have met those needs.<\/p>\n \u201cThere is an availability of land. They\u2019re able to connect to a lot of our other priorities,\u201d he said.<\/p>\n Private developers bring the proposals forward based on where they see possibilities. Other types of projects funded by the housing bond, like rental rehabilitation or home production, are concentrated in other parts of San Antonio.<\/p>\n \u201cOur distribution of projects is pretty spread out,\u201d Benavidez said. \u201cWe respond to the proposals that are submitted to us.\u201d<\/p>\n But developers are seeing opportunities across the South Side. Lincoln Avenue Capital is building a senior living complex next to Leon Creek Flats called Residences at Pearsall Park<\/a>. A pair of affordable family-style and senior living apartments called Sageland Flats<\/a> and Mesquite Trails<\/a> are also being built at Brooks.<\/p>\n Pete Alanis is the executive director of the San Antonio Housing Trust, which partnered with Lincoln Avenue Capital to develop Leon Creek Flats.<\/p>\n \u201cThis area of town has been very long underrepresented in affordable housing,\u201d he said. \u201cPeople want to live and continue to live in their neighborhoods.\u201d<\/p>\n Affordable apartments gave Southside residents options near their childhood homes to help keep communities together. \u201cWe\u2019re seeing in a lot of neighborhoods in San Antonio, families are growing older and children are moving out of neighborhoods. We need to build opportunities for people to stay.\u201d<\/p>\n Mungia said there\u2019s a need for all kinds of housing in his district, from affordable to market rate, to meet community needs. He hopes, though, that high-quality affordable housing opportunities like Leon Creek Flats pushes out other landlords, property managers and competitors.<\/p>\n \u201cIt\u2019s also on other people in the private space to do more for their properties,\u201d he said.<\/p>\n Which units are filling up?<\/p>\n Many of the units at Leon Creek Flats have already been leased.<\/p>\n Hopkins said the units targeted toward 30% AMI households had leased up quickly. Those targeted towards 60% AMI households were about half full.<\/p>\n Kayla Miranda, director of the Coalition for Tenant Justice, said she\u2019s concerned that units for higher AMIs aren\u2019t meeting affordable housing needs in San Antonio. <\/p>\n For example, 60% of AMI in the San Antonio-New Braunfels metro area is $52,200 for a family of three. That\u2019s the income requirement used for Leon Creek Flats.<\/p>\n \u201c[The U.S. Department of Housing and Urban Development] sets that for the area of San Antonio-New Braunfels,\u201d Miranda said. \u201cWe\u2019re not looking at what\u2019s affordable to the City of San Antonio.\u201d<\/p>\n In Leon Creek Flats\u2019 ZIP code, 78242<\/a>, incomes are lower than in the wider metro area, according to the U.S. Census Bureau<\/a>. The median income for households in that ZIP code is actually $50,644, less than what would be 60% AMI across the metro area. <\/p>\n![\"\"](\"https:\/\/www.newsbeep.com\/us-tx\/wp-content\/uploads\/2026\/05\/IMG_7346.jpeg\")
Lincoln Avenue Capital held a ribbon cutting Leon Creek Flats, an affordable housing complex on Holm Road near Pearsall Park, on May 12, 2026. Credit: Jasper Kenzo Sundeen \/ San Antonio Report<\/p>\n