SAN ANTONIO — The city of San Antonio and its partners have broken ground on Los Arcos at VIDA, a 324-unit affordable housing community on the city’s south side. Los Arcos is financed by 4 percent housing tax credits allocated by the Texas Department of Housing and Community Affairs ($36 million); private activity bonds issued by Opportunity Home San Antonio ($38 million); various funds from the 2022-2027 City of San Antonio Housing Bond Program ($5.3 million); and grant funds from the Bexar County Economic & Community Development American Rescue Plan Act ($2.5 million).
Additional project partners include the San Antonio Housing Trust, SouthStar Communities, Huntington Community Development Corporation, NRP Group, KeyBank, MassMutual/Barings, Alta Architects, MBC Engineers and Artis.
Los Arcos, which is Spanish for “the arches,” will be reserved for households earning between 30 to 70 percent of the area median income (AMI). The first units will be available for lease by April 2024, with the entire development slated for completion by the end of 2024.