Since revamping the Center City Housing Incentive Policy, the City has deemed eligible four new projects totaling 528 units.
Habitat for Humanity of San Antonio and other nonprofits support the City’s new incentives policy – however imperfect it may be.
City Council on Thursday approved changes to a pair of downtown development incentive programs that had been placed on hold for evaluation last year.
The Center City Housing Incentive Program was created in June 2012 to spur economic development.
A vote by the full City Council on implementing changes to the Center City Housing Incentive Policy could come Thursday.
The nonprofit affordable housing organization Alamo Community Group purchased the Calcasieu in 2014 to preserve the building’s status as “affordable.”
The City Council will decide in September whether to approve modifications proposed to two development incentive policies.
Council faces a long list of critical, difficult decisions they’ll have to make in the coming months.
Downtown development incentives in San Antonio have generated more than $375 million in property taxes since 2012.
Austin-based developers Teeple Partners determined the Kallison Square tower project was not financially feasible, even with incentives.