S
an Antonio is emerging as a prime location for affordable housing development, with subsidies potentially kickstarting a range of projects in the city's central area. According to HR&A Advisors, a consultant hired by Centro San Antonio and Visit San Antonio, incentivizing "deeply affordable" and affordable housing projects that cater to residents making below the area median income is the most effective use of city funds. These projects are often difficult to finance, requiring subsidies such as project-based vouchers and gap funding.

    The consultant's math suggests a 125-unit deeply affordable project could require up to $32 million in subsidies, or $125,000 per unit, while mixed-income developments would have a $70,000 per-unit gap, totaling $18 million. The goal is to create a downtown that serves residents across all income levels.

    In addition to affordable housing, the consultant recommends activating public spaces, addressing parking constraints, enhancing pedestrian navigation, and supporting local retail to foster a vibrant, community-centered downtown. These recommendations will be presented to the San Antonio City Council early next year.

    San Antonio's booming housing sector has attracted major builders like Miami-based Lennar, with its level of affordability making it a prime location for large-scale developers and individual homebuyers. Innovative residential projects are underway, such as the conversion of the Nix Medical Center into apartments along the River Walk, further diversifying San Antonio's housing options.