July 7, 2017 Comments Off on Keeping Housing Costs Down, Via Land Lease Views: 688 San Antonio, Texas News

Keeping Housing Costs Down, Via Land Lease

Housing developer Rising Barn is planning a different single-family concept in one of San Antonio’s older neighborhoods. Dubbed Porter Street Greens, the east side development will feature modular houses costing less than $150,000. The land on which the houses will sit is owned by BCL of Texas, a non-profit based in Austin.

Mortgages obtained by Porter Street Greens homeowners would be co-terminus with the long-term land lease. “The reason we’re contemplating this structure is to mitigate exposure to tax increases, which are happening nationally and in particular in Bexar County,” said Rising Barn’s Peter French, at a recent community meeting. He added that there is little entry-level housing available, especially for buyers earning less than $100,000 annually.

The project will feature five houses that vary in size between 392 square feet to 2,600 square feet. The net-zero, energy-efficient houses open onto a shared courtyard, and together occupy one 12,000-square-foot lot.

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