San Antonio Allocates $17.2M to Expand Affordable Housing

Overview of San Antonio’s New Housing Initiative
On Thursday, the San Antonio City Council sanctioned funding for four major affordable housing projects, contributing significantly to the city’s housing stability efforts.

Funding and Project Details
The projects, pivotal in tackling the city’s housing challenges, will receive $17.2 million as part of the broader $150 million Affordable Housing Bond. This funding will help create and preserve a total of 929 homes. Notably, 711 of these homes will be affordable for families earning 60 percent or less of the Area Median Income (AMI), which translates to $39,850 annually for a family of three.

Impact on Community Services and Support
Veronica Garcia, the Director of the Neighborhood and Housing Services Department, emphasized the comprehensive benefits of the selected projects. In addition to providing affordable housing, the initiatives will include job training, health and wellness programs, and enhanced access to public transportation. These integrated services aim to support residents’ overall well-being and long-term stability.

Progress and Goals of the Affordable Housing Bond
With the latest funding approval, the Affordable Housing Bond has now contributed to the development or preservation of 4,344 homes. This progress marks a significant step towards diversifying housing options and making affordable housing accessible in all city areas.

The Bottom Line
San Antonio’s commitment to expanding affordable housing continues to strengthen, with strategic investments aimed at fostering inclusive community growth and ensuring that all residents have access to safe, affordable housing. The city’s approach not only addresses the immediate need for housing but also integrates essential services to support residents’ holistic needs.

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