$30M financing aids start of San Juan units in SA$30M financing aids start of San Juan units in SAhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=69532013-06-27T13:52:00Z2013-06-27T06:45:00Z

SAN ANTONIO - The San Antonio Housing Authority (SAHA) has reached a major milestone in its San Juan community — the final phase. At the completion of Phase III, San Juan's entire complex will boast 539 new apartment units.

Financing for the third and final phase of the San Juan development has been completed.

San Juan Phase III will feature 252 mixed-income units, a clubhouse and 4,000 sf of commercial space.

Of the 252 units that will comprise the apartment community, 63 have been set aside as public-housing units. Another 31 will be project-based voucher units. These apartments will serve families earning 30 percent of the area median income (AMI) or below.

The remaining 158 affordable apartments will serve families earning up to 60 percent of AMI.

The development cost for San Juan Phase III is approximately $30.3 million.

Funding for the project has come from various sources — including the Department of Housing and Urban Development (HUD), City of San Antonio HOME funds, the Texas Department of Housing and Community Affairs (TDHCA), as well as tax credits and tax-exempt bonds.

San Juan is located along South Zarzamora on the city’s West Side. The entire San Juan community is located on the site of what was a public-housing project by that same name that dated back to 1951.

Phase I of the San Juan redevelopment was completed in December 2007. Phase II debuted in December 2009.

Read more at the San Antonio Business Journal.

San Antonio Business Journal
San Antonio-New Braunfels
http://www.bizjournals.com/sanantonio/blog/2013/06/saha-closes-on-financing-for-30.htmlRead more at {Source}

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