DEPARTMENT: Neighborhood and Housing Services Department
DEPARTMENT HEAD: Ver?nica R. Soto, FAICP, Director
COUNCIL DISTRICTS IMPACTED: 5
SUBJECT:
An ordinance approving a Development Agreement for an amount not to exceed $328,341 between the City of San Antonio, the Westside Tax Increment Reinvestment Zone Number Thirty Board of Directors, and Tampico Apartments, LP, for eligible development costs that include impact fees, building permit fees, and other City fees related to the construction of the Tampico Apartments located at 200 Tampico Street, San Antonio, TX, in Council District 5.
SUMMARY:
Construction of the Tampico Apartments on 3.76 acres will create affordable housing and mixed income housing opportunities for residents that will help redefine the standards for affordable housing and affordable living in the near Westside.
BACKGROUND INFORMATION:
The Tampico Apartments will offer units and layouts in efficiency, 1-bedroom, and 2-bedroom floor plans. The four-story structures will be elevator-served, and the community will offer several on-site amenities. The site will be transformed into a diverse multifamily apartment community with the following details:
200 Total Units, Class-A New Construction, Mixed-Income Multifamily
Unit Mix # of Units Percentage
Studio 58 29%
1-BD/1-BA 72 36%
2-BD/2-BA 70 35%
Income Mix
30% AMI 9 5%
40% AMI 10 5%
50% AMI 18 9%
60% AMI 70 35%
70% AMI 20 10%
80% AMI 9 5%
Market Rate 64 32%
In addition to resident supportive services that will be provided on-site, the community will also provide residents a 24-hour fitness center, business center, clubhouse with demonstration kitchen, resort-style pool and pavilion, bicycle parking, barbecue grilling stations, dog park, and two roof-top lounge spaces. As a vibrant urban community just steps away from the future San Pedro Creek Culture Park and the Westside creeks improvements, the Tampico Apartments will help integra...
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