South San Antonio Renovation Will Yield Affordable Housing
A proposed apartment complex on the site of the former St. John's Seminary in South San Antonio will set aside a majority of its units for affordable housing.
The developers, 210 Development Group, have agreed to set aside three-quarters of the proposed 228 units for families and individuals with an income at or below 60% of the local median income, according to the San Antonio Business Journal.
"We wanted to push for affordable units in this community because our intentions are to hold onto it for the long term. We all understand the importance of a Class-A project in this neighborhood, and we're very excited about it, not only because of the quality but also because of the design," CityView co-founder and Vice Chairman Victor Miramontes, who is an investment partner in the project, told the SABJ.
Median income for a family in San Antonio is $63,500. That would set rents at $667/month for a studio apartment, $714/month for one-bedroom units and $858/month for two-bedroom units.
St. John's Seminary has been vacant since 2011. When plans to renovate a number of historic structures on the site were approved by the city commission, developer Mark Tolley said the project had taken three years of negotiations, according to the San Antonio Express-News.
B&A Architects drafted the preliminary designs for the project, which is valued at $30M. B&A also designed the renovated Peanut Loft Condos.
