San Antonio

Progress on San Antonio’s East Side brings higher rents, housing costs

SAN ANTONIO – Residents on San Antonio’s East Side say progress of their neighborhoods has led to higher rents and housing costs.

Rosa Montalvo — who was promoting an assortment of footwear, garments, toys, and extra at a yard sale behind her house, spoke in Spanish with the experience of a housing analyst about what’s taking place on the East Side.

“The rents have gone up much more these days,” mentioned Montalvo, based mostly on her personal expertise.

She mentioned she’s paying nearly $1,000 a month for her modest house, anticipating it might go up much more.

Montalvo mentioned a minimum of it’s not as excessive as the home she’d inquired about renting for $2,500 a month, plus a $2,500 deposit.

“That’s a down payment on a house,” she mentioned.

Montalvo additionally has seen how house costs have elevated in her space. She mentioned her husband is a painter, so he is aware of how a lot building costs have risen.

Montalvo mentioned climbing building costs and even higher rates of interest are preserving her from realizing her dream of proudly owning her very own residence.

She mentioned she’s seen the brand new condominiums and renovated houses on the East Side, however she believes progress has come at a price.

“That’s what’s raising prices of existing houses, so it’s become more difficult for us,” she mentioned.

Montalvo mentioned she additionally believes out-of-state buyers behind a lot of the brand new building and renovations count on the identical returns they’d get in these states.

“They think we live the same way here. It’s not the same,” Montalvo mentioned. “It’s not the same. Here the wages are real low.”

Robert Melvin, president and CEO of San Antonio for Growth on the Eastside, or SAGE, mentioned the survey performed for the group’s State of the Eastside earlier this week displays the disparity.

The lack of respectable, reasonably priced housing was proven to be a prime precedence all through the survey.

He mentioned that development and improvement are good for the East Side, however the question is, “How do we do so in a way that is not harmful to the people that call east San Antonio home?”

“We can’t do so in a way that’s going to disrupt the historical integrity of what our community is and what that history means to our residents,” Melvin mentioned.

He mentioned it might take considerate planning and assuring residents they’re not alone in dealing with the modifications and challenges introduced on by the expansion round them.

Melvin mentioned SAGE is able to assist with “any resources that they may want and/or need. We’re here to provide that for them.”

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