Construction advances on Central at Commerce, a 279-unit East Side affordable apartment community in San Antonio
A downtown-adjacent infill project aimed at income-restricted rentals
Work is underway on a new affordable apartment community planned for San Antonio’s East Side near the Alamodome, marking one of the larger proposed infill housing developments in the area in recent years. The seven-story project, called Central at Commerce, is planned for a vacant site at 1231 E. Commerce St., just east of St. Paul Square.
The development is a joint effort between Opportunity Home San Antonio, the city’s public housing authority, and Indianapolis-based developer The Annex Group. Plans call for 279 apartments in one-, two- and three-bedroom layouts, with all units reserved for households meeting income eligibility requirements tied to area median income (AMI).
Affordability structure and unit mix
Project materials describe affordability tiers spanning from 30% to 70% of AMI. The planned mix includes deeper affordability set-asides alongside units priced for households closer to workforce-income levels, a structure commonly used to support financing while expanding access for residents with lower incomes.
- Total units planned: 279
- Income-restricted range: 30% to 70% of AMI
- Apartment types: one-, two- and three-bedroom units
Design review, materials, and urban context
Because of its location near the urban core, the proposal has gone through public design review processes that evaluate exterior design, massing, and compatibility with surrounding historic context. Project descriptions provided to city preservation staff indicate a design approach using materials such as brick and stone and emphasizing large windows and active ground-floor frontage.
Central at Commerce is planned as a seven-story building intended to add housing density on a currently vacant East Side lot near downtown.
Financing and public participation
Central at Commerce has been discussed publicly with development costs estimated around $91 million during earlier planning stages. Subsequent reporting described a larger assembled financing package totaling $107 million. Funding components referenced publicly include city housing bond participation and debt financing associated with Opportunity Home, alongside other lending sources.
Like many income-restricted rental developments, the project has also pursued tools used broadly in affordable housing finance, including federal low-income housing tax credits administered at the state level.
Timeline and what comes next
Earlier planning documents projected construction beginning in 2026 with an opening targeted for spring 2028, reflecting an estimated 22- to 24-month construction period after the start of work. As construction proceeds, remaining milestones typically include final permitting, continued compliance reviews tied to affordability requirements, and lease-up planning before initial occupancy.
The project’s location near jobs, transit corridors, and downtown amenities has been cited in public descriptions as a core rationale for placing income-restricted housing in an area where vacant parcels remain common but new multifamily construction has been less frequent than in suburban growth zones.