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The San Antonio Housing Trust (SAHT) approved a redevelopment project this week that will expand affordable housing options in downtown San Antonio.
Developer Good Homes will convert The Whitney hotel property on 435 Bonham St. into a 220-unit affordable residential community.
The project will set aside five units for residents who make 40% of the Area Median Income (AMI), 35 units at 50% AMI, and 71 units at 80% AMI. The remainder will be listed at market price.
AMI is calculated on household size and annual income and is used federally and locally to ensure reasonably priced housing.
This latest investment will bring in a 93% community benefit ratio over the next decade.
“The approval of the Whitney is a strategic investment in expanding workforce housing within walking distance of the Alamo, Hemisfair, and potential new Spurs arena,” said District 1 councilwoman Sukh Kaur in a news release.
The Whitney property was originally built in 1996 and was last renovated in 2004.
