Bexar County considers $4.5M plan to buy land for affordable housing

Commissioners raise concerns about the county taking on financial risk for the proposed apartment project near Hays Street Bridge

Mar. 10, 2026 at 11:23pm

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Bexar County commissioners are considering a proposal from Prima Materia LLC to provide $4.5 million to purchase a 2.45-acre vacant site at 715 Chestnut St. on the East Side of San Antonio. The company plans to build a $35.4 million, four-story apartment complex with 134 units for low- and moderate-income residents. However, some commissioners are concerned that the county would be taking on financial risk if the project does not come to fruition, as previous proposals for the site have failed to materialize.

Why it matters

The proposed affordable housing project is seen as an important step in addressing rising housing costs in the gentrifying neighborhoods near downtown San Antonio, especially after the demolition of the Soap Factory Apartments. However, the county's involvement in directly purchasing the land and leasing it to the developer is an unconventional arrangement that raises concerns about financial risk.

The details

Prima Materia LLC, a company affiliated with San Antonio real estate and health care investor Carl Gamboa, is proposing the $35.4 million apartment complex. The company is asking the county to provide $4.5 million to acquire the property from SNIN LLC, which would take it off the tax rolls. The complex would include 14 units for people earning up to 30% of the median income, 13 units for people earning up to 50%, 45 units for people making up to 60%, 20 units for people earning up to 70%, and 40 units for people making up to 80% of the median income.

  • The developers said they have a mid-April deadline to close on the site.

The players

Tommy Calvert

Bexar County Commissioner who is pushing for the county to use taxpayer dollars to help build affordable apartments in his East Side precinct.

Carl Gamboa

San Antonio real estate and health care investor who is the principal of Prima Materia LLC, the company proposing the affordable housing project.

Ken Lowe

Local developer who is also involved with the Prima Materia LLC project.

Justin Rodriguez

Bexar County Commissioner who expressed concerns about the county taking on the financial risk of the project.

Peter Sakai

Bexar County Judge who also raised concerns about the county's financial risk.

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What they’re saying

“Commissioners 'have stressed a commitment to develop affordable and workforce housing. They know better than anyone what it takes to support the very low rents necessary to meet the 30% (level),'”

— Carl Gamboa, Principal, Prima Materia LLC (expressnews.com)

“This is a risk that governments often take, and it's called land banking.”

— Tommy Calvert, Bexar County Commissioner (expressnews.com)

“The arrangement would be 'unconventional and maybe unprecedented' compared with the county's role in projects in the past.”

— Justin Rodriguez, Bexar County Commissioner (expressnews.com)

What’s next

Commissioners told county staff to keep negotiating with Gamboa and Lowe and come back this month with more details before they make a decision about whether to provide funds for the property purchase.

The takeaway

This proposal highlights the challenges Bexar County faces in addressing affordable housing needs, especially in gentrifying areas near downtown. While the county is committed to developing more affordable housing, the unconventional financial arrangement raises concerns about the county taking on significant risk if the project does not come to fruition.