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From Texas Public Radio

The San Antonio Housing Authority, a TAAHP member, is implementing a new initiative to provide affordable single-family homes to qualified buyers earning no more than 120% of the area median income (AMI). The organization partnered with a local builder to build homes in an area of downtown experiencing gentrification and that saw a 20% increase in values just this year. The program helps keep home prices down by approaching new developments with a team of lenders, builders and government agencies that look for ways to keep costs down.

Completion of the homes, priced from $130,000 to $160,000 is expected in 2020.

In order to keep the homes affordable for at least 20-years, homeowners agree maintain affordability by selling to those who earn no more than 120% of the area median income at the time of sale.

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