 |
City of San Antonio District 6 Councilwoman
Melissa Cabello Havrda.
|
SAN ANTONIO, TX – Opportunity Home San Antonio in
partnership with an affiliate of Atlantic Pacific Companies (A|P), OCI
Development, and PNC Bank were joined by San
Antonio leaders today to celebrate the construction of Vista at Reed,
a new affordable housing community in far westside of San Antonio.
 |
| City of San Antonio Mayor Ron Nirenberg |
"Vista at
Reed is a great example of vision and collaboration between our city, housing
developers, lenders, and nonprofit partners," said City of San
Antonio Mayor Ron Nirenberg. “Expanding access to quality affordable
housing to our growing community is one of San Antonio's top priorities.”
Vista at Reed has 56 two-bedroom and three-bedroom
apartment homes complemented by business and fitness centers as well as laundry
facilities.
 |
Olivia Travieso
|
The property will host on‐site arts and recreational
activities such as book clubs and creative writing classes twice per month, tax
preparation classes, health and wellness programming and an annual safety fair
provided by local first responders.
Rental prices will range from $398 to $1,380 for two-
and three-bedroom units, and 55
units are set aside for residents with qualified income up to 60% of the Area
Median Income (AMI). A utility allowance will also be provided to residents to
help offset their utility expenses.
Six of the units are deeply affordable for individuals
or families who earn at or less than 30% AMI, which is an annual income at or
less than $23,910 for a household of three. An additional 13 units are reserved
for households earning 50% AMI, which is an annual income of less than $39,850
for a household of three.
“Vista at Reed is a perfect example of how fast District
6 is growing, it’s one of the fastest growing areas of our
city,” said City of San Antonio District 6
Councilwoman Melissa Cabello Havrda. “With more people choosing to
live in far west San Antonio, there’s a need for more housing options and
families will have the opportunity to thrive in District 6."
 |
| Brandee Perez |
Located near public
transportation and employment areas,
the new residential community is in a high opportunity area, which is defined
by the Texas Department of Housing and Community Affairs (TDHCA) as an area
that provides greater opportunities for residents including high-performing
schools, low poverty rate, higher median household income, and great close
proximity to services.
“Giving individuals and families a place that not only
serves as a home, but also where they can receive resources that help them
thrive in their communities is the most fundamental part of our mission at
Opportunity Home,” said Brandee Perez, Chief Real Estate and
Development Officer, Opportunity Home. “The resources offered at Vista at
Reed will help to ensure residents there meet and exceed their goals and
potential, positively impacting the San Antonio community as a whole.”
The project is designed with residents in mind,
including children and multi-generational households. All living spaces
will have at least one ADA-accessible pedestrian route to the unit, and at
least 5% of units will be set aside for the mobility impaired with additional
units designed specifically for the hearing and/or visually impaired.
Residents and their guests will enjoy outdoor play areas, green spaces,
recreational areas, and safety features.
 |
| Chris Sherman |
"As lifelong San Antonians, we have seen the
growing need for high-quality, affordable housing options in every part of
town. Through our partnership with Atlantic Pacific Companies, we're able to
expand critical housing opportunities with new developments like Vista at Reed
and invest in building communities that will positively impact San Antonio for
years to come," said Olivia Travieso, Partner and Co-founder of
OCI Development.
The building design will prioritize energy efficiency,
sustainable water reduction features, resilient building and weatherization
practices, residential storm water control features, and other innovative and
bold strategies to reduce the environmental impacts of development and lower
energy costs for residents.
“PNC has been a leader in developing and rehabilitating
affordable housing for years, and we are proud to have invested nearly $18
million in Low Income Housing Tax Credit equity to the Vista at Reed project,”
said Chris Sherman, PNC Regional President for San Antonio.
“As housing affordability continues to be a challenge
for Americans across the U.S., we remain committed to leveraging our national
resources to increase and preserve the supply of affordable rental housing in
San Antonio and beyond.”
 |
Dan Wilson
|
The new community will also integrate high-speed,
dependable, and affordable internet and mobile infrastructure into the design
plan.
“We are committed to developing beautiful communities
that enhance neighborhoods and improve lives. Vista at Reed is another
testament of our commitment to provide a better quality of life to the
residents we serve, and we couldn’t be more proud to work with OCI Development,
Opportunity Home San Antonio, and the City of San Antonio to bring this
high-quality, affordable housing community to families in need,” said Dan
Wilson, A|P Executive Vice President.
The development is projected to be completed in Spring
2025, and will begin pre-leasing prior to completion.
CONTACTS:
Jessica
Wade Pfeffer | jessica@jwipr.com | 305.804.8424
Margie Sernik | margie@jwipr.com | 786.200.2516
www.oci-development.com.
www.apcompanies.com.
www.pnc.com.
