3644 Binz-Engleman Road
San Antonio, Texas 78219  map
(210) 212-3939

Artisan at Salado Creek Apartments
Units
Bdrms
Baths
SF
Rent
16
2
2
967
$306
8
2
2
967
$427
16
2
2
967
$547
40
2
2
967
$688
20
2
2
967
$970
16
3
2
1,162
$352
8
3
2
1,162
$492
16
3
2
1,162
$632
40
3
2
1,162
$771
20
3
2
1,162
$1185
     200 Total
    

Management: United Apartment Group
Year Constructed: Ccompleted Spring 2006
Date of Acquisition: May 14, 2004
On-site Staff: Pending
Land Area: 12.4 acres; 540,144 SF
Gross Building Area: 234,000 SF
Net Rentable Area: 212,900 SF
Number of Buildings: 8
Number of Stories: 3
Parking Spaces: 335

 

 

 

 

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Artisan at Salado Creek Apartments

Amenities and Resident Services

Community amenities include a fully equipped clubhouse and community room, computer and kids room, playground, swimming pool, parking and storage garages, full perimeter fencing, controlled access gates, picnic areas, walking trail, and energy efficient components such as R-30 insulation in the attics and 12 SEER air conditioners. Eight units will be available for mobility impaired residents, which include provisions for sight and hearing impaired residents. A Resident Service Coordinator will be employed on-site to implement resident activities.

Affordability

16% of the units are reserved for individuals and families with income at or below 30% of Area Median Family Income (AMFI) for the San Antonio region. 8% of the units are reserved for 40% AMFI, 16% are reserved for 50% AMFI, 40% are reserved for 60% of AMFI, and 20% are reserved for Market Rate rentals.AMFI in San Antonio for a family of fou in 2008 is as follows: 30%- $16,400; 40%- 21,880; 50%- $27,350; 60%- $32,820.

Financing

The Artisan at Salado Creek is financed through $7,992,000 in Private Debt secured by an FHA credit enhancement, $10,078,992 in equity provided by the sale of 9% tax credits to a private investor, $300,000 in HOME fund loans issued by City of San Antonio and General Partner equity to be re-paid through deferred fees.

Additional Information

The development is owned by FDCSA Binz, Ltd. The General Partner of the Limited Partnership is 200 FDCSA Binz, LLC of which Merced Housing Texas owns 9.9%.

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