City supports income-restricted housing
San Marcos is a step closer to having two new income-restricted housing developments.
The San Marcos City Council approved resolutions for Lantana on Bastrop Multifamily Housing Project and Redwood Multifamily Housing Project, which provide no objection to the submission of applications for low income housing tax credits to the Texas Department of Housing and Community Affairs.
Lantana on Bastrop, which is planned at the intersection of South Old Bastrop Highway and Rattler Road, plans to address a city housing need with 216 income and rent-restrict units, which include “22 units for those making 30% or less of area median income, 18 units for those making 40% or less of the area median income, 50 units for those making 50% or less of the area median income, 71 units for those making 60% or less of the area median income, and 55 units for those making 70% or less of the area median income,” according to items presented to the city council. The area median income is $95,900, according to the U.S. Department of Housing and Urban Development.
Victor Miramontes, managing partner of Lantana, said this housing development is designed as a true, mixed-income project.
“We’ve done this for a long time and we believe that the best communities have a range of people,” Miramontes said. “People learn from people. And to have that diverse community, everybody learns from each other.”
The council voted to unanimously approve 2020-28R, providing no objection to the submission of an application for low income housing tax credits to the Texas Department of Housing and Community Affairs for the proposed Lantana on Bastrop Multifamily Housing Project. Lantana will make a yearly Payment in Lieu of Taxes (PILOT) of $11,000
“We do appreciate this project,” Deputy Mayor Pro Tem Mark Rockeymoore said. “With y’all going back in and looking at it some more and coming up with the changes that you came up with and as a first example as a shining star moving forward of what we’d like to see in this area.”
Lantana is partnering with the San Marcos Housing Authority to provide affordable housing to the city. Miramontes said the partnership would bring in approximately $3.8 million to the city over 13 years.
The project will provide community support services such as shuttle buses, food pantry, on-site adult classes and an annual health fair.
Lantana’s 9.93-acre location is currently in the city’s extra-territorial jurisdiction but is asking to be zoned as Character District 4, which allows for single family, two-family and multifamily with limited commercial or mixed use on the corners, according to city development code.
The council previously voted against a resolution to provide Lantana on Bastrop no objection to a submission of an application for low income housing tax credits during Dec. 3’s meeting
The city council also approved Resolution 2020- 27R which provided no objection to the submission of an application for low income housing tax credits to the Texas Department of Housing and Community Affairs for the proposed Redwood Multifamily Housing Project.
The Redwood project is located at 1600 block of Redwood Road and is already zoned as CD-4. The development is expected to have 296 total units with 30 units restricted to 30% AMI and 266 restricted at 70% AMI.
The Redwood project is partnering with the Capital Area Housing Finance Corporation to obtain a tax exemption. It will also be partnering with the Hays-Caldwell Women’s Center to reserve five units affordable for those making 30% AMI or less specifically for victims of abuse that look for help through the HCWC.
“I think this is going to be a fabulous project,” councilmember Melissa Derrick said. “Another landmark and setting a precedent for what we want in San Marcos.”
