DEPARTMENT: Center City Development and Operations Department
DEPARTMENT HEAD: John Jacks
COUNCIL DISTRICTS IMPACTED: All
SUBJECT:
Briefing on the progress and potential extension of the Center City Housing Incentive Policy (CCHIP)
SUMMARY:
This item is a briefing on the progress and potential extension of the Center City Housing Incentive Policy (CCHIP) adopted in June 2012 to stimulate high-density housing development in the Center City.
BACKGROUND INFORMATION:
In June 2012, City Council adopted the Center City Housing Incentive Policy (CCHIP) - an as-of-right housing incentive program designed to encourage the development of multifamily housing in the center city, particularly in targeted growth areas identified in the Downtown Strategic Framework Plan.
The CCHIP applies to multi-family rental and for sale housing projects within the CRAG area - the original 36 square miles of the City of San Antonio. Eligible projects receive city fee waivers, SAWS impact fee waivers, real property tax reimbursement grants, low-interest loans, and mixed-use development forgivable loans based on the terms outlined in the CCHIP. The program encourages historic rehabilitation, adaptive reuse, brownfield redevelopment, transit oriented development, and mixed use and mixed income redevelopment.
Since its adoption in June 2012, the CCHIP has achieved great success. To date, 42 housing projects have entered the program, resulting in the creation of 4,288 housing units that are either complete, in design, or under construction. This represents a total private investment amount of approximately $707 million, and $53 million in City incentives. Of these units, 2,714 will contribute to the housing goal of 7,500 new housing units in the downtown area by 2020. This is in addition to the 1,981 units in non-CCHIP projects which will result in a total of 4,695 units in the Greater Downtown Area, or 63% of the 2020 housing goal.
This briefing ...
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