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The hurdles are raised for first-time homebuyers in Texas yet again, as rising interest rates demand an overall higher income for mortgage approval.

The Texas Real Estate Research Center released findings in its recent Texas Housing Affordability Outlook that Texans buying their first homes need $10,000 more in income than at the beginning of last year to be approved for a $229,000 house.

Purchasing power, the center explains, and mortgage interest rates are indirectly related. Higher interest means higher monthly payments; it takes a higher income to keep up. “... As long as the rise in home prices continues to outpace the increase in income, purchase affordability, or the ability of a household to buy a home, will continue to diminish,” explains the report.

The $229,000 figure represents the first-quartile home price in Texas in Q1 2022, described as "the highest home price among those lowest-priced 25 percent of homes sold" in the state. The state's median home price for the first quarter of 2022 was $319,000. Year-over-year growth was slightly higher for the median figure (18.4 percent) than first-quartile figure (17.5 percent), but both are at their highest rates since the beginning of the chart in 2012.

San Antonio’s first-quartile home price sat slightly above the state average, at $235,000, while the area's median home price for the first quarter came in at $305,000. The Austin-Round Rock area is a large contributor to the statewide growth, with a 29.2 percent change in first-quartile prices, up to $420,000. Dallas’ numbers are a near match to the state's figures, and Houston’s are just slightly below.

Unfortunately for many Texans currently renting, only 37.4 percent of them are making the qualifying income ($61,652) to buy one of those first-quartile homes with a 3.4 percent interest rate (that was the national interest rate at the beginning of the year; by mid-May the interest rate had risen to 5.25 percent). In San Antonio, only 32.5 percent of area residents are in a similar position, necessitating an income of $63,236. This is nearly twice the qualifying income required for a first-quartile home in 2011 ($23,142).

Douglas Elliman

Late San Antonio philanthropist’s artsy penthouse spices up market for $7.25 million

Hot property

The former San Antonio penthouse of the late philanthropist and art collector Linda Pace — whose parents launched the Pace picante sauce empire — has landed on the market with a price tag of $7.25 million.

The two-story Camp Street penthouse encompasses 15,076 square feet in the historic Southtown district. The property features a private rooftop with 7,500 square feet of open-air space offering 360-degree views, a jetted swim spa, and irrigated gardens. The penthouse provided exhibition space for Pace’s extensive art collection, which is now housed at the Ruby City art museum.

Pace purchased the entire building in 2001 and converted it into “one of the most prestigious residential properties in San Antonio,” according to Douglas Elliman Texas, where Michael Reisor has the listing. The Camp Street Residents project occupies a structure built in 1926 that once housed the Duerler Candy Factory.

Highlights of the penthouse include:

  • Six bedrooms.
  • Seven full and three half-bathrooms.
  • Industrial loft space with “Soho vibe.”
  • Private elevators.
  • Four underground parking spaces.
  • High-end Miele appliances in both kitchens.
  • Pocket porch terrace on each floor.
  • Vast collection of contemporary art.
  • More than 2,000 feet of separate storage space for art.
  • Full-time concierge service for all 20 condos at Camp Street Residences.

Pace died in 2007 at age 62. Her parents started Pace Foods, their picante sauce business, in 1948. Twenty-one years later, Pace’s husband, Christopher “Kit” Goldsbury, joined the company. In 1982, Pace and Goldsbury bought Pace Foods. The couple split up five years later.

Campbell Soup bought Pace Foods in 1994 for a little over $1.1 billion. At the time, Goldsbury was the sole owner of Pace Foods. In the 1980s, he purchased Linda Pace’s 50 percent stake for $95 million.

A year after the Campbell deal, Pace — an artist in her own right — founded Artpace San Antonio, a nonprofit residency program for artists. Goldsbury, with an estimated net worth of $1.7 billion, is the driving force behind San Antonio’s wildly popular Pearl development.

The two-story penthouse is in Southtown.

Douglas Elliman
The two-story penthouse is in Southtown.
Courtesy rendering

Luxury condos gallop into Hill Country resort with prices up to $1.3 million

Waves of luxury

Horseshoe Bay, one of the Hill Country’s most popular resorts, is adding some high-end housing at the more than 7,000-acre destination.

The resort, situated along Lake LBJ in the town of Horseshoe Bay, is building 60 luxury condos between the marina and yacht club. Prices of the condos run from the $800s to more than $1.3 million. Sizes range from 1,570 to 2,324 square feet.

Horseshoe Bay says the three-building Waters Lakeside condo project will be completed by the summer of 2022. Each condo will feature three bedrooms.

“These new high-end condominiums are in the center of the resort’s amenity complex and offer wonderful views of Lake LBJ. These residences are the perfect base camp for families and friends to enjoy the exclusive club and resort lifestyle,” Jordan Jaffe, owner of Horseshoe Bay, says in a news release.

The condo project is part of more than $100 million in renovations and upgrades that the 400-room resort has undertaken.

Amenities at Horseshoe Bay include:

  • Four championship golf courses
  • Spa and health club
  • Fourteen tennis courts
  • Bike rentals
  • Hiking trails
  • Private airport
Photo courtesy of Kuper Sotheby's International Realty

Urban condo claims its spot only 2 blocks from the River Walk

Haute Property

831 S. Flores #1103
San Antonio, TX 78204

Neighborhood: Downtown
Style: Condominium
Square footage: 2,169
Beds: 3
Baths: 3
Price: $500,000

The lowdown: Living downtown is cool to begin with, but when you live in a cool historic building that's been converted into condo lofts? Double the cool quotient. This unit has 13-foot ceilings and an industrial urban feel with exposed stone walls, and is only two blocks from the River Walk and King William.

It's open-concept with a main-level kitchen, living room, two bedrooms, and two bathrooms. The lower-level basement has a huge family room plus the third bedroom and bathroom. The condo building itself offers a pool, gym, dedicated park for dogs, bike storage, a barbecue, and a rooftop deck with amazing views that can be reserved for your own private use.

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This home is on the market with Barbara Finch of Kuper Sotheby's International Realty. Click here to see more photos, details, and to contact the agent.

Unit #1103 at 831 S. Flores is listed for $500,000.

Photo courtesy of Kuper Sotheby's International Realty
Unit #1103 at 831 S. Flores is listed for $500,000.
Photo courtesy of Kuper Sotheby's International Realty

Loft living gets a chic upgrade at downtown San Antonio condo

Haute Property

831 S. Flores St., #3212
San Antonio, TX 78204

Neighborhood: Downtown
Style: Condominium
Square footage: 790
Beds: 1
Baths: 1
Price: $269,500

The lowdown: When it comes to character, this condo at the Judson is hard to beat. Once a candy factory, the historic building now houses 84 homes and shows off a brick exterior and architectural details that reveal its past. The interior of #3212 is freshly painted, clean, bright, and boasts high ceilings and industrial touches that add to its appeal. The practical floorplan has tons of fun features, including a kitty door to the balcony.

You'll notice granite countertops, a spacious laundry room, and a large patio to enjoy coffee in the morning or a glass of wine in the evening. A separate dining area is off the kitchen, plus the unit comes with a convenient storage room. Residents can take advantage of the community pool, gym, and dog grooming spot. The best part? Its location. Judson lofts are near the River Walk, King William Historic District, Blue Star Arts Complex, the new San Pedro Creek Culture Park, H-E-B, and the blue line trolley route for access to downtown and the Alamo.

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This home is on the market with Debra Maltz of Kuper Sotheby's International Realty. Click here to see more photos, details, and to contact the agent.

Unit #3212 at 831 S. Flores is listed for $269,500.

Photo courtesy of Kuper Sotheby's International Realty
Unit #3212 at 831 S. Flores is listed for $269,500.
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CultureMap Emails are Awesome

Here are the top 5 things to do in San Antonio this weekend

Weekend Event Guide

Locally inspired happenings and live performances make it easy to explore all that Alamo City has to offer in the days to come. See Incubus perform live in concert or feast on tailgate-inspired foods with Culinaria. Check out the top five things to do in San Antonio this weekend. For more event listings, go to our calendar, and be sure to check each event website for any weather-related cancellations.

Thursday, February 2

Centro Cultural Aztlan presents "Segundo de Febrero: Chicana/Chicano Reunion" opening reception
The 46th annual Segundo de Febrero exhibition is unveiled for the public in full fanfare at Centro Cultural Aztlan. Guests can explore a variety of works from a group of artists inspired by the impact of broken treaties, new borders, and their effects on Latino, Chicano, and indigenous culture and history. Opening reception highlights include music, light refreshments, and a live poetry reading by The Jazz Poets of San Antonio featuring Los Chromies. Admission to the reception is free.

Incubus in concert
Rock band Incubus comes to the Alamo City’s Tech Port Center + Arena for one night only. They will perform in support of their 2020 EP Trust Fall (Side B). Frontman Brandon Boyd is also touring in support of his solo project, Echoes & Cocoons. Purchase tickets here.

Friday, February 3

Chris D'Elia in concert
Comedian and podcaster Chris D’Elia graces the Majestic Theatre with his presence and plenty of humorous takes for a live audience. He’s best known for his comedy specials on Netflix, including No Pain (2020) and Man on Fire (2017) and for his podcast, Congratulations with Chris D'Elia. A select number of tickets are still available.

Immersive Van Gogh
Discover the complexities of Vincent van Gogh’s life, art, and creative process during the last weekend of this artful pop-up experience. Visitors will be transported inside some of the artist’s most famous works through art technology, storytelling, and world-class animation on more than 500,000 cubic feet of projections throughout the space. Learn more about this experience and purchase tickets here. Immersive Van Gogh is open through this Sunday, February 5.

Saturday, February 4

Culinaria presents Titans of Tailgate
Enjoy equal parts culinary expression and grill mastery at this clash of chefs presented by Culinaria at Sunken Garden Theater. Highlights of the foodie-approved festivities include food samplings, wine tastings, tailgating games, and more. Proceeds of the event will benefit San Antonio High Schools’ supporting culinary education. For more information, go to the Titans of Tailgate website.

Incubus/Facebook [https://www.facebook.com/incubus]
Incubus

Fast and healthy chicken salad chain roosts in San Antonio with 2 new outposts

Same chickens, new coop

Texas is not exactly known for its delis, so Chicken Salad Chick may be a sight for sore eyes in San Antonio. The Alabama-based concept has been popular in Texas: It opened its 24th restaurant in the state and the first in San Antonio on January 31, following through on a 2021 announcement to bring eight locations to the area in the next few years. A second location is set come clucking in February, pushing the chain's total number of restaurants in the United States past 220.

For now, the first restaurant is in the Stone Oak neighborhood at 22831 N US Hwy 281, where it serves a dozen flavors including a traditional southern flavor with sweet pickles and eggs, and more adventurous flavors like buffalo sauce or lemon and basil. These come on lettuce, bread, and sometimes croissants (although these do not appear on the San Antonio menu online). With an order-ahead app and a drive-through window, this fast concept gets even faster.

"We are thrilled to introduce this unique concept to San Antonio,” said San Antonio franchise co-owner James Oberg in a release. “In fact, we love Chicken Salad Chick so much, we already have our second location in Westover Hills opening in just a few weeks and have plans for more. The brand sets itself apart with its made from scratch menu, core values focused on enriching the community and commitment to serving guests.”

The restaurant is taking this grand opening opportunity, starting February 8, to delve into that giveback goal with daily giveaways as well as a friends-and-family fundraiser benefiting the Children's Hospital of San Antonio Foundation, Christus Health.

On Wednesday, February 8, the first 100 guests will receive one large container of chicken salad every month for a year. One of those winners will be randomly selected to receive their prize weekly, instead. On Thursday, Friday, and Saturday, the first 50 guests to make specific purchases will receive a prize: a tote bag, a small cooler, and a large cooler, respectively. Guests can arrive starting at 7 am for grand opening day only.

Oberg presents this franchise with co-owner George Shaw, who call San Antonio their hometown and have owned some Freddy's Frozen Custard & Steakburgers restaurants for almost 20 years.

Chicken Salad Chick is open now, Monday through Saturday from 10 am to 8 pm. On Wednesday, February 8, guests may begin arriving at 7 am to check in for the grand opening, but will have to return later between 9:45-11:15 am, depending on their assigned time. Chicken Salad Chick will post more about giveaway terms on Facebook.

Beyoncé comes home to Texas as part of highly anticipated new world stadium tour

queen bey is coming

Hear ye, Texas: Our queen is coming. Houston-born Beyoncé will grace the Lone Star State with her presence on two different stops as part of her just-announced Renaissance World Tour. San Antonio Beyhive fans will have to travel, but hey, at least she's coming.

She'll first stop in Dallas on September 21, where she'll play at the AT&T Stadium before heading to her hometown on September 23 at Houston's NRG Stadium.

Tickets for the world tour dates go on sale Monday, February 6. BeyHive members will enjoy an exclusive presale, while other fans can register now with Ticketmaster’s Verified Fan technology here. Those interested can score tickets, schedules, and more information at beyonce.livenation.com and tour.beyonce.com.

Note to jet-setting Texans: The queen kicks off her world tour on May 10 in Stockholm, Sweden at the Friends Arena. She'll dot Europe with big stadium shows through June 27, where she'll play Warsaw, Poland.

Her North American tour starts July 8 in Canada, where she'll play Toronto's Rogers Centre. Beyoncé will trek the U.S. through the summer and into September; her Dallas and Houston shows are the sole Texas performances.

In a bit of a head scratcher, the Texas native will end her tour in New Orleans (Caesars Superdome) on September 27.

The world tour comes as Beyoncé is awash in Grammy glow: in November, she was nominated for nine Grammy Awards, tying her with her husband (neé Shawn Corey Carter) for the most nominations in Grammy history. Critics and fans have lauded Renaissance, her first solo work since the wildly popular and deeply personal 2016 effort, Lemonade.

Start packing and planning those trips. Here's the entire tour schedule:

Europe

May 10, 2023 – Stockholm, SE – Friends Arena

May 14, 2023 – Brussels, BE – King Baudouin Stadium

May 17, 2023 – Cardiff, UK – Cardiff Principality Stadium

May 20, 2023 – Edinburgh, UK – BT Murray Field Stadium

May 23, 2023 – Sunderland, UK – Stadium of Light

May 26, 2023 – Paris, FR – Stade de France

May 29, 2023 – London, UK – Tottenham Hotspur Stadium

May 30, 2023 – London, UK – Tottenham Hotspur Stadium

June 08, 2023 – Barcelona, ES – Olympic Stadium

June 11, 2023 – Marseille, FR – Orange Velodrome

June 15, 2023 – Cologne, DE – Rhein Energie Stadion

June 17, 2023 – Amsterdam, NL – Johan Crujff Arena

June 21, 2023 – Hamburg, DE – Volksparkstadion

June 24, 2023 – Frankfurt, DE – Deutsche Bank Park

June 27, 2023 – Warsaw, PL – PGE Narodowy

North America

July 8, 2023 – Toronto, ON – Rogers Centre

July 12, 2023 – Philadelphia, PA – Lincoln Financial Field

July 15, 2023 – Nashville, TN – Nissan Stadium

July 17, 2023 – Louisville, KY – L&N Federal Credit Union Stadium

July 20, 2023 – Minneapolis, MN – Huntington Bank Stadium

July 22, 2023 – Chicago, IL – Soldier Field Stadium

July 26, 2023 – Detroit, MI – Ford Field

July 29, 2023 – East Rutherford, NJ – MetLife Stadium

Aug. 01, 2023 – Boston, MA – Gillette Stadium

Aug. 03, 2023 – Pittsburgh, PA – Acrisure Stadium

Aug. 05, 2023 – Washington, DC – FedEx Field

Aug. 09, 2023 – Charlotte, NC – Bank of America Stadium

Aug. 11, 2023 – Atlanta, GA – Mercedes-Benz Stadium

Aug. 16, 2023 – Tampa, FL – Raymond James Stadium

Aug. 18, 2023 – Miami, FL – Hard Rock Stadium

Aug. 21, 2023 – St. Louis, MO – Dome at America's Center

Aug. 24, 2023 – Phoenix, AZ – State Farm Stadium

Aug. 26, 2023 – Las Vegas, NV – Allegiant Stadium

Aug. 30, 2023 – San Francisco, CA – Levi’s Stadium

Sept. 02, 2023 – Inglewood, CA – SoFi Stadium

Sept. 11, 2023 – Vancouver, BC – BC Place

Sept. 13, 2023 – Seattle, WA – Lumen Field

Sept. 18, 2023 – Kansas City, MO – Arrowhead Stadium

Sept. 21, 2023 – Dallas – AT&T Stadium

Sept. 23, 2023 – Houston – NRG Stadium

As with previous tours, Beyoncé will create activations, programs, and giveaways via BeyGOOD, the foundation she created in 2013.