From the San Antonio Express-News:
A national developer is partnering with the San Antonio Housing Authority to build two complexes totaling more than 600 apartments in Southwest and East San Antonio. With a combined valuation of nearly $116 million, both will receive a full property tax exemption in exchange for including lower-priced units for rent.
Cleveland-based NRP Group’s $60.5 million complex at the intersection of Watson and Somerset roads in Southwest San Antonio will include 348 units ranging from one to four bedrooms.
The bulk of the units — 294 — will be rented to residents earning up to 60 percent of the area median income. There also will be 18 units at each of the following income levels: 70 percent, 50 percent and 40 percent of the area median income.
Read the San Antonio Express-News' article "NRP, San Antonio Housing Authority partnering to add affordable apartments in Southwest and East San Antonio."