Alamo Ranch Area to Get New Affordable Housing Development
July 29, 2020
—
The Opportunity Home San Antonio (Opportunity Home) and the Lynd Company broke ground on a new multi-family development that will bring affordable housing to the Loop 1604 and Culebra road area of San Antonio, a booming neighborhood surrounded by new businesses and incoming shopping centers.
The development will have 327 new housing units. 164 of those units will be rented at up to 80% Area Median Income (AMI), and the other 163 units will be rented at market rate. The maximum income for a resident renting an affordable housing unit is $44,720.
“Opportunity Homemade a commitment to San Antonio to increase the affordable housing stock in the city and this morning’s groundbreaking is another part of our multi-year commitment to do just that,” said David Nisivoccia, Opportunity Home President and CEO.
The Lynd Company has proposed a public-private partnership with the Opportunity Home San Antonio’s affiliated entity, the San Antonio Housing Facility Corporation, to construct the Culebra Crossing Development. Lynd is both a real estate developer and property management company.
“Lynd Development is proud to be partnering with Opportunity Home San Antonio on the development of Lynd Living at Culebra Commons,” said David Lynd, CEO of the Lynd Company. “This project will deliver much needed housing to one of the fastest growing sub markets in the city.”
The community will offer state of the art amenities such as green spaces, dog parks, pools, wireless internet throughout the entire complex and luxurious club room meeting spaces. In addition, LYND LIVING will be delivering experiences such as live music, food trucks and much more to the residents.
“In keeping with our initiative to support our veterans we will partner with the VA hospital to house some of our nation’s heroes,” Lynd said. “The site will have a full time VSO officer that will provide counseling, assistance accessing benefits and rides to the VA Hospital.”
The $50 million development will feature one-, two- and three-bedroom units ranging in size from 530 square feet to 1,348 square feet.
The development is expected to be completed in fall 2021, and leasing applications will be accepted in May 2021.