Courtesy of Mission DG and B&A ArchitectsMission DG is partnering with the San Marcos Housing Authority to develop 216 apartments for families at a range of income levels, the first affordable housing project of its kind in San Marcos in more than 50 years.
The complex is across from San Marcos High School, near Bowie Elementary School and a short drive from the San Marcos Premium Outlets, the Tanger Outlets and an Amazon fulfillment center in fast-growing Hays County, where housing costs are rising. Tolley said he hopes The Lantana will attract workers from those employers.
Mission DG is using federal low-income housing tax credits and income averaging, with a mean of 60 percent of the area median income. The Lantana is the first “new affordable income-based rental housing project in San Marcos in over 50 years,” housing authority Executive Director Lana Wagner said in a statement.
The median sales price of a home in Hays County soared from $161,722 in 2011 to $440,000 in 2022, according to the Texas Real Estate Research Center at Texas A&M University. In San Marcos, it jumped from $140,000 to $358,705 during the same period. The median rent in San Marcos is $1,225 a month for a one-bedroom and $1,385 a month for a two-bedroom, according to home search website Apartment List.