Plans are underway for the development of Crosswinds Apartment Homes, a US$ 15.3M affordable housing project in San Antonio’s Northside.
The housing project is being spearheaded by the Rhode Island-based CVS Health, a pharmaceutical company that will be partnering with WNC, a North Carolina-based real estate firm, Pedcor Investments, an Indiana-based affordable housing firm, and San Antonio Housing Trust on the project.
The designs will be handled by Fifth Dimension Architecture & Interiors based in Austin.
Project scope, features, and amenities
Development plans for the Crosswinds Apartment Homes will cover the construction of 13 three-story residential apartment buildings, which will be built on a 21-acre site located at 4114 North Loop 1604 East in Alamo City. This 321 unit affordable housing project will include a mix of one- to three-bedroom units, intended for individuals and families facing economic difficulties.
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Crosswinds Apartment Homes will feature several shared amenities which include a business center, a community building with a management office, fitness center, picnic area, playground, swimming pool, dog park, and parking areas.
Mayor Antonio Ron Nirenberg said the Crosswinds Apartment Homes would provide safe, stable, and affordable housing for the most vulnerable San Antonio families, and also show the city’s commitment to the House America initiative.
Crosswinds Apartment Homes ownership
Future Crosswinds Apartment Homes tenants would have to apply to rent the units and only applicants earning between 30% to 60% of San Antonio’s average median income would be considered.
According to CVS’s external affairs manager for the southern region, Shannon Dillon, the rents at Crosswinds Apartment Homes are estimated at US$ 358 per month for a one-bedroom unit to US$ 1,074 per month for a three-bedroom unit.
Dillon said it was important for tenants to note that the income restrictions would vary based on different units and the projected prices are subject to changes between this period and the time the building begins leasing starts. She also mentioned that the prices of those units expected to open by summer 2024 will be adjusted based on the current average median income of that year.
