AGENDA - San Antonio Housing Authority

THE EASTSIDE CHOICE NEIGHBORHOOD TODAYEASTSIDE CHOICE NEIGHBORHOOD TRANSFORMATION PLANHOUSINGCHALLENGES• Multi-family vacancy rate of 14%• Dilapidated and abandoned structures• Concentrated poverty• Distressed Class C and D multi-familyproperties• Lack of affordable, livable, and decenthousing• Wheatley Courts public housing—currently inefficient, inaccessible andobsolete• Surrounding neighborhood plagued withvacant lots and abandoned structures• The number of vacant and dilapidatedhousing units in the area has steadilyincreased over the past decade to 16%.The U.S. Census Bureau defines a housingunit as any apartment, mobile home,a group of rooms, or a single room thatis occupied (or if vacant, is intended foroccupancy) as separate living quarters.According to the 2010 Census, 663units are considered vacant, which isa 23% increase over the past decade.The defined Study Area is considerablysmaller in comparison to San Antonio,yet accounts for 1% of all vacant housingunits in the city. Renters account for52% of the occupied housing units withinthe “Study Area” while 23% of individualsown their homes free and clear. SanAntonio’ has a much higher percentageof owner occupied housing (64%) thanthe Study Area (48%).• Increasing rental rates and low occupancyrates within the “Study Area’s” multifamilymarket indicate that residents arelooking elsewhere for housing due to alack of affordable units outside of publichousing. Rental rates have risen by 7.2%since 2007 to $663/ per month. The currentaverage rental rate is alarming highfor an area where 51% of the renter populationwhose annual household medianincome is less than $15,000. San Antoniorental rates have risen sharply comparedto the “Study Area,” with currentaverage rates at $715/month, 8% higherthan the Study Area’s current rental rate.Occupancy rates within the “Study Area”have declined sharply signaling that thesteady rise in rental rates has forcedindividuals to seek housing elsewhere.Vacancy rates for the “Study Area” haverisen to 14% since 2007 despite theoverall decrease in vacancy rates for theSan Antonio multi- family market. Highervacancy rates signal that residents areseeking housing elsewhere. 11 Source: March 2012 Wheatley Courts Choice Neighborhood MarketAnalysis – San Antonio, TX Angelou Economics22