Spotlight On: Pete Alanis, Executive Director, San Antonio Housing Trust Foundation

Key points:

• • San Antonio is advancing affordable housing despite market headwinds, with transit-oriented development becoming a key priority.
• • The Housing Trust is expanding adaptive reuse and urban core redevelopment to improve workforce housing options.
• • Long-term efforts focus on reinvestment, neighborhood revitalization, and increasing housing supply within the city.

July 2026 — In an interview with Invest:, Pete Alanis, executive director of the San Antonio Housing Trust Foundation, discussed housing affordability, workforce housing, transit-oriented development, and reinvestment in San Antonio’s urban core. “San Antonio needs to invest in itself,” Alanis said.

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How would you describe the state of San Antonio’s housing market, including any major changes or trends over the past year?

San Antonio’s housing market is in a period of hyper supply. Over the past few years, we have done very well, particularly on the multifamily rental side, in creating a substantial amount of affordable housing that aligns with the city’s goals. A major factor has been the city’s $150 million housing bond, which provided resources for multifamily affordable housing gap financing.

We are about four years into the city’s 10-year housing goals and roughly 40% of the way toward achieving them. While that progress is encouraging, market conditions have shifted. Inflationary pressures have affected both developers and consumers. Renters and homebuyers are feeling the impacts, and market absorption has slowed as many developers take a wait-and-see approach before moving forward with new projects.

We are probably about 18 months away from absorption levels normalizing. Because affordable housing development is typically a two- to three-year process, we should have a clearer picture later this year of what development activity may look like in 2027. The number of projects moving through the low-income housing tax credit pipeline will be a good indicator of future activity.

We have also seen some multifamily properties, including market-rate and affordable projects, struggle because of the amount of supply currently on the market. Vacancy rates have increased, although affordable housing properties have generally performed better because they remain competitive for residents seeking affordability. Overall, we are working through a challenging point in the real estate cycle, but I believe the market will stabilize and return to growth.

What are you hearing from employers about the impact housing has on attracting and retaining workers in the region?

We recently surveyed the downtown workforce and looked at wages compared to housing costs. Roughly half of the employees working downtown earn between 40% and 70% of the area median income. When we examined the amount of housing that’s affordable to that segment of the workforce, the supply was very limited.

That creates a challenge for employers because many workers who support the downtown economy, including hospitality employees and service workers, need access to affordable housing options. The cost of land in the downtown core makes it difficult.

One of the biggest opportunities lies in transit-oriented development. Our local transit authority’s Green Line and Silver Line, multi-million-dollar investments in Bus Rapid Transit, can help connect affordable housing developments to employment centers. If we can create affordable housing along those transit corridors, we can reduce both housing and transportation costs for workers while improving access to jobs and services.

We have also focused attention on Cattleman Square, where San Antonio Housing Trust has acquired property and is working with public and nonprofit partners to address homelessness and support redevelopment. We believe there is significant potential to create affordable housing opportunities while addressing community needs through coordinated partnerships and supportive services.

There is tremendous redevelopment potential in that area, but it requires collaboration among public agencies, community organizations, and residents. We see that work as an important part of creating long-term opportunities for both residents and employers.

How are you engaging the community as part of that redevelopment vision?

It is not just input. We are asking the community to co-create with us. This is more than presenting a plan and asking people what they think. We want the people who live, work, and operate businesses in the area to help shape the future vision. They are the people who will engage with that community every day, and they should benefit from the redevelopment that takes place.

It really is about true community engagement and co-creating a vision with the community rather than simply collecting feedback.

What specific housing needs are growing fastest, and how are you adapting to meet them?

Renters and homebuyers are very cautious right now because of market uncertainty and elevated costs. Confidence in the third quarter of 2026 has been impacted by rising everyday expenses, making people unable to purchase homes or move into new apartments.

At the same time, developers continue to face challenges. Insurance costs remain elevated, interest rates remain high, and inflation continues to affect materials and operations. Those pressures have made it more difficult for projects to move forward.

As a result, we have increasingly looked at adaptive reuse opportunities. Rather than focusing exclusively on new construction, we have evaluated existing buildings that can be converted into affordable or workforce housing.

One example is 111 West Travis, formerly known as the Robert E. Lee Apartments, where we have focused on preserving housing while supporting existing tenants. We also acquired the Whitney, a former hotel near downtown that will eventually be converted into workforce housing close to employment centers and transit options.

These projects provide opportunities to create quality housing at more affordable price points while making use of existing structures. Not every building is suitable for adaptive reuse, so we have been selective in identifying projects that make sense from both financial and community perspectives.

We have also worked on a project near the Medical Center that repurposed a long-closed assisted living facility into veteran-supportive housing. Because the building already incorporated accessibility features, it was particularly well suited for serving veterans and others who need accessible housing options.

These kinds of projects demonstrate how existing properties can help meet housing needs while reducing some of the costs and timelines associated with new construction. Our goal is to meet the needs of our workforce and our community.

Looking ahead three to five years, what are the Housing Trust’s top priorities?

Our priorities are focused on the city’s inner core and on creating opportunities connected to transit-oriented development along the Green Line and Silver Line corridors.

One challenge we face is that many schools within the urban core have experienced declining enrollment, which has led to closures. We need to find ways to make these neighborhoods attractive to families again and encourage reinvestment within Loop 410.

There has been outward growth for decades. The question now is how we encourage people to move back into established neighborhoods and create communities that remain viable over the long term. Additional housing, thoughtful density, and neighborhood investment can help stabilize schools and strengthen communities.

That is a critical priority for us, and we are continuing to explore opportunities that support those goals.

What gives you the most confidence about San Antonio’s long-term outlook?

I am very excited about San Antonio’s future. I am bullish. The best time to invest is often during market downturns. San Antonio has historically been a very stable market. We do not typically experience the dramatic highs or lows that some other markets see, and that stability has helped the city recover relatively quickly during economic cycles.

I believe there are tremendous opportunities within the city’s inner core. One initiative we are working on is a Missing Middle Toolkit that examines ways to encourage investment in smaller-scale housing developments. While there are not many large development sites available in the urban core, there are many smaller parcels that can support additional housing.

The goal is to identify housing types and development approaches that add density without disrupting neighborhoods. These projects can create opportunities for local developers, increase housing supply, and encourage reinvestment in existing communities.

We expect to release the toolkit in the fall of 2026 and use it as a resource for developers interested in these types of projects. While these opportunities may not attract the largest national investors, they can have a meaningful impact through local investment and local participation.

You are keeping those dollars local, and reinvesting that equity locally is extremely important. San Antonio needs to invest in itself. Having those smaller investment opportunities can create that pathway.

Want more? Read the Invest: San Antonio report.