The San Antonio Housing Trust is seeking a development partner for the first phase of a 530-unit multifamily development on San Antonio’s South Side.
The development, which is referred to as the “San Antonio Housing Trust Vida project” includes three development phases with 530 units in the Vida master-planned community.
The first phase of the San Antonio Housing Trust’s project will be named “The Judy,” for Judy Babbit, the late chief accessibility officer for the city of San Antonio and will feature 90 senior housing units.
The Judy will emphasize accessibility and affordability, with plans for 20% of units targeting rates affordable to residents making 30% of San Antonio’s area median income, which is $26,550 annually for a family of four according to the U.S. Department of Housing and Urban Development.
“Phase one will apply for the 9% competitive housing tax credit program,” Alanis said. “We are highly competitive based on project location, unit mix and community engagement.”
Phase 2 is anticipated to begin in 2026, with the third phase a few years after that, said Alanis. Initial conversations included a potential for-sale component, Alanis confirmed however that all developments would be rentals.
The Housing Trust finalized the $3.5 million purchase of the 20-acre site for the project in December 2023, funding it with a $2.2 million loan from Frost Bank and approximately $1.3 million in equity.
Alanis highlighted the growing access to health care and employment opportunities on the South Side as a key advantage of the development.
He specifically noted the development’s proximity to Methodist Healthcare’s recent land acquisition.
“We aim to connect housing for older adults on the South Side with nearby health and educational opportunities,” Alanis said. “The area’s development, including a nearby hospital and Methodist’s land acquisition, offers exceptional connections to health, education and jobs.”
This article was originally published in the San Antonio Business Journal.