Spurs Sports & Entertainment Announces Downtown-Area Housing Incentive Program For Employees
Full-Time Staff will be Eligible for Financial Assistance when Renting or Purchasing Housing in San Antonio’s Downtown-Area Neighborhoods
SAN ANTONIO - Spurs Sports & Entertainment announced today the launch of a Downtown-Area Housing Incentive Program for employees looking to rent or buy in San Antonio’s downtown-area neighborhoods. The program is designed to help lure more of SS&E’s 350 plus full-time employees to the city’s core and provide them greater opportunity to live closer to where they work. SS&E is among the first employers in San Antonio to create a downtown housing incentive program.
"The Eastside is our home and the downtown area is important to our business, so we are constantly looking for ways to invest in our surrounding community," said Bobby Perez, Spurs Sports & Entertainment Senior Vice President, General Counsel & Corporate Relations. "It’s exciting to see the renewed efforts city-wide to revitalize the downtown San Antonio area and the momentum that has been generated. We hope this housing incentive can be another catalyst for that continued development.”
The program will launch a two-year pilot phase and hopes to encourage more SS&E employees to move into apartments and homes within a targeted area of San Antonio‘s urban core, which includes the area surrounding the AT&T Center. Primary residences must be located within the downtown-area quadrant bordered by Woodlawn Ave. to the north, I-90 to the south, S. Zarzamora St. to the west and W.W. White Road in the east. The program will provide direct financial incentives and awards to employees – up to $3,600 for renters and $4,800 for buyers.
The details of the program will be evaluated over the two year pilot phase. During the pilot phase renters will receive up to $1,200 toward the first month’s rent and up to $1,200 toward the last month’s rent for a one-year lease, plus eligibility to receive up to $1,200 upon renewal of that lease. SS&E employees looking to utilize the incentive program to buy a home will be eligible to receive up to $4,800 to apply towards the purchase of the home.
“Spurs Sports & Entertainment is a dedicated and committed partner in helping our city reach SA2020 goals,” said District 2 City Council Member Ivy Taylor. “The SS&E Downtown-Area Housing Incentive Program has the capacity to play a vital role in our Eastside revitalization efforts.”
The program also looks to advance the mission of Mayor Julián Castro’s SA2020 initiative to “catalyze the entire San Antonio community into passionate, focused, and sustained action to achieve the shared goals that will transform San Antonio into a world-class city by the year 2020 in eleven key vision areas,” by addressing the Downtown Development vision area.
Both rental properties and housing developments have signed on to provide further incentives to those SS&E employees taking advantage of the plan. The NRP Group, which operates the Cevallos Lofts Apartments, will offer assistance with fees and monthly payments on all properties within the targeted area. Housing developer Terramark Urban Homes, which includes developments such as Cherry Street Modern and City-View Modern, has agreed to provide additional incentives to SS&E employees that choose to purchase their properties.