Expanding Affordable Housing Stock in San Antonio, Texas
April 2025 – Indianapolis, IN – The median price of a home in San Antonio, Texas is $315,499, according to San Antonio Report. While that price has remained stable since 2024, it is still out of reach for many. Several factors, including the housing market, will push San Antonio residents to rent apartments to find a place that fits their budget. Our brand-new Riverbreeze development will bring 264 affordable apartment homes to the area. The community will consist of 1, 2, 3 and 4-bedroom units, with rents at 30%, 60% and 70% of the Area Median Income (AMI).
Riverbreeze will feature three 3-story breezeway buildings. This community will feature a variety of amenities such as a community room, fitness center, activity/craft space, pool, picnic and a business center. The community is pet-friendly and will offer furry family members a dog park.
According to the U.S Census Bureau, San Antonio’s population increased more than any other large U.S. city- from 2022 to 2023. This level of growth brings housing, and affordable housing specifically, into the spotlight.
“A stable, affordable home is the foundation to building other areas of life,” said Carly Gast, Director of Development. “Our residents will be able to prioritize their family, career, education, health and more while living at Riverbreeze.”
Riverbreeze is financed by tax exempt bonds with San Antonio Housing Facility Corporation (Opportunity Home) as the bond issuer, general partner, and general contractor on the deal (with KPG being the master subcontractor). Additional financing includes a construction loan from Merchants Bank of Indiana, a permanent loan from Merchants/Freddie Mac, and tax credit equity from Merchants Capital.
About Kittle Property Group
With roots going back to 1948, Kittle Property Group is a national leader in bringing together community, financial and government partners with innovative plans to develop, construct and manage quality, affordable and market-rate multi-family apartment homes that serve as a catalyst to local economies by sustaining families, neighborhoods and businesses. Kittle Property Group owns and manages more than 18,000 apartment homes, providing homes to 30,000 family members in 16 states, and invested capital of more than $3 billion.
