Heritage Estates at Medina, Marbach Lofts and Tezel Road Apartments are three complexes in San Antonio receiving a housing tax credit.
SAN ANTONIO — More affordable housing and development are now on the way for San Antonio.
Thursday night, Governor Greg Abbott announced $99 million in housing tax credits for properties across Texas.
63 groups across the state are going to benefit from this, including some in San Antonio.
Heritage Estates at Medina, Marbach Lofts and Tezel Road Apartments are three complexes in San Antonio receiving a housing tax credit.
It’s meant to make more affordable housing available.
These three complexes will split $6.8 million from the overall housing tax credit to build 242 units.
$3.1 million would go toward units designated for the elderly.
The Housing Tax Credit Program allows developers to use private capital to cover up to 70% of construction costs.
Investors who buy the credit can write it off on their taxes.
The general affordable units will be available for anyone earning up to 80% of the average family income in each area.
Other developers in the area also receiving support for new affordable housing or upgrades include Abbington Station in Pleasanton and the Fredericksburg Senior Apartments in Gillespie County.