In a move set to bolster the availability of affordable housing in San Antonio’s District 1, the San Antonio Housing Trust (SAHT) has given the green light to transform The Whitney hotel into a mixed-income residential hotspot. As per the details gleaned from the City of San Antonio official announcement, this property will soon house 220 units. The project, spearheaded by Good Homes, seems set to cover a spectrum of incomes: 5 units at 40% Area Median Income (AMI), 35 at 50% AMI, and a more substantial 71 units earmarked for those at 80% AMI, the rest at the market rate.
Located walking distance from the Alamo and the potential new Spurs arena, at 425 Bonham Street, the erstwhile hotel, constructed in 1996 and last spruced up in 2004, is a strategic chess move for the city. Infused with local significance, it might just be the olive branch for affordability the downtown area needs. "With the approved transaction of this property, more individuals and families in need can obtain affordable housing in downtown," District 1 Councilwoman Dr. Sukh Kaur told the City of San Antonio. Signature projects like these bolster the community with a projected 93% community benefit ratio over a decade, according to project proponents.
The SAHT meeting on Monday, as the scene of the approval, marking a sizable victory for affordable housing advocates. While the precise timeline for when we might see the first tenants move in has not been released, observers anticipate developments to begin posthaste.
Stakeholders seem to be peering through rose-colored glasses on this one, with Kaur noting the proximity to downtown jewels like Hemisfair and the historic Alamo itself. "The approval of the Whitney is a strategic investment in expanding workforce housing within walking distance of the Alamo, Hemisfair, and potential Spurs arena," she added, highlighting the location's perks for future residents, as per the City of San Antonio.
