The Residences at Grayson Heights near Joint Base San Antonio-Fort Sam Houston will...
The Residences at Grayson Heights will include 281 apartments. The San Antonio City Council granted the developers’ request for $2.1 million from the Inner City Tax Increment Reinvestment Zone, though some council members had reservations.
A tax increment reinvestment zone, or TIRZ, is a mechanism in which increases in property tax revenue from land within the zone are used to reimburse developers for public improvements such as utility work and new sidewalks.At a June 16 meeting, several City Council members balked at the request, which was approved in a 7-3 vote.
“Public dollars should work for public good,” Castillo said. “Yes, the city of San Antonio is quickly gentrifying, but that does not mean that we should continue to feed the beast.”As part of their agreement with the city, the developers must contribute $500,000 to an affordable housing fund to help with home rehabilitation in Government Hill. Castillo pointed to the city’s repair programs and how many homes could be rehabilitated with $2.1 million in funding.
“This is the last of my inherited projects, and so moving forward, I want to be clear that I’m looking for substantial community buy-in and feedback,” he said. “I want to see public spaces and community benefit to include deep affordability and/or a significant level of investment in the community.”Councilman Mario Bravo said he is worried about energy consumption and the limited funding available for the TIRZ to distribute.