The San Antonio Housing Trust has approved $1.6 million in funding to support several affordable housing initiatives across the city, the trust announced Monday.
The funding will be distributed to five local nonprofit organizations: SA Impact Guild, which will receive $50,000; Culturingua, which will receive $150,000; Merced Housing Texas, which will receive $743,000; Opportunity Home San Antonio, which will receive $650,000; and Bethel AME, which will receive $25,500.
“These investments reinforce our commitment to preserving and improving affordable housing opportunities in San Antonio,” said Pete Alanis, executive director of the San Antonio Housing Trust, in a press release. “By partnering with mission-driven organizations, we can ensure long-term housing stability for our most vulnerable communities.”
Nearly half of renters in San Antonio are cost-burdened, meaning they pay more than 30% of their income on rent.
The San Antonio Housing Trust is a fund established in 1988 with $10 million by the City of San Antonio and governed by a Board of Trustees appointed by City Council.
What projects will be funded?
SA Impact Guild plans to use its funds to assess how to best use surplus land currently owned by the Lutheran Church of Good Shepherd, with the goal of transforming the property into an “economic mobility campus,” described as a space designed to help people improve their economic situation and achieve financial independence.
Culturingua will use its funds to establish a Community Land Trust to help low to moderate income families in the medical center area preserve homeownership and prevent displacement due to rapid growth. A Community Land Trust is a nonprofit organization that owns and manages land for the benefit of a community.
Merced Housing Texas will divide its funds into three projects: $90,000 to renovate Eleanor Apartments, $213,000 for improvements at Kings Court Senior Apartments, and $440,000 for the renovation of Elmhurst Apartments. Merced owns or has developed seven affordable communities in San Antonio.
Opportunity Home San Antonio will use its funding to make repairs at the Dietrich Road Apartments, a 30-unit complex serving people and families earning 60% or less of the area median income or AMI. In the San Antonio-New Braunfels area, the AMI is $37,200 for a household of one and $53,100 for a household of four.
Bethel AME will use its funding to launch a study exploring the potential for developing affordable senior housing on the East Side of San Antonio.
The funding is part of the trust’s annual Joint Request for Application process, which provides technical assistance and financial support for the renovation and repair of existing public housing and small multi-family rental units in San Antonio. A total of 10 applications were received this year.
For more information about the San Antonio Housing Trust, visit the its website.
