NRP Group, City of San Antonio Celebrate Delivery of First Newly Constructed Affordable Community Funded Through Voter-Approved Housing Bond

324-unit Los Arcos at Vida offers amenity-rich, quality housing to residents earning between 30% and 70% AMI

SAN ANTONIO--(BUSINESS WIRE)--The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, alongside the City of San Antonio and several development and financial partners, today announced the opening of a 324-unit affordable housing community in San Antonio, Texas. Los Arcos at Vida is the first newly constructed affordable development in San Antonio to be funded and break ground through the 2022–2027 City of San Antonio (COSA) Housing Bond Program.

Los Arcos at Vida provides safe, quality and accessible rental housing to residents earning between 30% and 70% of the Area Median Income (AMI). The community is part of the 600-acre VIDA San Antonio master-planned development that now offers a diverse mix of housing options including single-family homes, townhomes and multifamily residences.

"Los Arcos at Vida exemplifies the critical role public-private partnerships play in addressing the growing demand for affordable housing in San Antonio. This collaborative effort between the City of San Antonio and other vital partners has been instrumental in maintaining the momentum of new housing developments,” said Nick Walsh, Vice President of Development at The NRP Group. “Securing funding for this project was a significant achievement, highlighting the importance of coordinated efforts to overcome the challenges posed by inflation and escalating construction costs.”

Located at 10210 S Zarzamora St. near the entry of South San Antonio, the community provides convenient access to SE Loop 410 and is a short distance from Texas A&M University San Antonio, Palo Alto College, the South Park Mall and San Antonio Missions National Historic Park. Residents will benefit from direct access to the new Madla Greenway trail system, as well as a vibrant retail center, student housing and a new University Health hospital campus.

"Based on a shared vision of equity and opportunity, Los Arcos at VIDA sets a new standard for community-driven solutions and will truly redefine what affordable housing looks and feels like in San Antonio,” said City of San Antonio Mayor, Ron Nirenberg.“This is truly a benchmark moment for the City and the dedicated workers with the Neighborhood and Housing Services Department who made this happen.”

Los Arcos at Vida consists of one- to four-bedroom residences offering modern interiors including eat-in kitchens with an island/breakfast bar, generous walk-in closets, private patios, vinyl plank flooring, key fob entry systems and in-suite full-size washer/dryer connections. Community amenities include a swimming pool with a sundeck, barbecue grills and picnic areas, a conference center and cyber cafe, an activities room that’s also used for afterschool programming, a community garden, an outdoor playground, an onsite clothes care center, a game room and convenient package storage.

“Today, we celebrate a milestone that bridges our district's incredible economic growth that has been happening for nearly two decades with the urgent need for affordable housing,” said Dr. Adriana Rocha-Garcia, San Antonio City Councilmember, District 4. “Los Arcos at VIDA represents a deep-seated commitment to ensuring that no one is left out or left behind as our district continues to thrive. It’s a reminder that progress must be inclusive and equitable for all who will live, work, and study here. Together, we will continue to build a brighter future for all.”

In addition to the COSA 2022 housing bond, the project was financed through the Texas Department of Housing and Community Affairs ($36M), private activity bonds issued by Opportunity Home San Antonio ($38M) and grant funds from the Bexar County Economic & Community Development American Rescue Plan Act ($2.5M). Additional development financiers and stakeholders include: San Antonio Housing Trust, KeyBank, Barings, Huntington National Bank, Alta Architects and MBC Engineers. Total development costs exceeded $81 million.

“Los Arcos at Vida marks a significant milestone in our commitment to ensuring that all San Antonio residents have access to safe, affordable and high-quality housing,” said Pete Alanis, Executive Director, San Antonio Housing Trust. “This development goes beyond simply increasing housing supply, it also creates lasting opportunities for stability, accessibility and growth within our community. As San Antonio continues to welcome new families and businesses, projects like Los Arcos at Vida are essential to addressing housing challenges while promoting economic inclusivity and sustainability. This accomplishment reflects the power of collaboration between public and private sectors to meet the evolving needs of our city.”

"Los Arcos at Vida is a pivotal milestone in Bexar County's ongoing effort to create thriving, inclusive communities where residents can live, play, and pray," said Rebeca Clay-Flores, Bexar County Commissioner, Precinct 1. "This development offers much-needed affordable housing while also laying the groundwork for economic growth and opportunity throughout our region. It stands as a powerful example of what we can accomplish when we prioritize collaboration, equity, and the well-being of our diverse population."

The NRP Group has developed more than 30,000 units across Texas. Since opening the Texas office in 2004, the company has developed nearly 50 affordable, workforce and market-rate communities in San Antonio, totaling over 11,000 units across the city.

The Los Arcos at Vida community is now open and leasing is actively underway. For more information, please visit www.losarcosvida.com.

About The NRP Group

The NRP Group is a vertically integrated developer, owner, builder, and manager of best-in-class multifamily housing with a mission to create exceptional rental housing communities for individuals and families, regardless of income. Since its founding in 1994, NRP has developed more than 60,000 apartment homes and currently manages over 30,000 residential units.

Through its disciplined approach to vetting opportunities, NRP has established a track record of delivering impressive returns for investors. The company’s formidable size and depth of talent provide the experience and infrastructure necessary to execute developments of varying degrees of complexity and scope in both urban-infill and suburban locations, including market-rate, affordable, mixed-income, and senior housing.

The NRP Group is consistently ranked in the Top 10 largest developers and builders in the U.S. by the National Multifamily Housing Council and by Affordable Housing Finance. The NRP Group is a winner of the National Association of Home Builders Multifamily Pillars of the Industry award for “Builder of the Year,” and a four-time recipient of the same award for “Development Firm of the Year.” The NRP Group has become the top multifamily developer in the U.S. that creates both affordable and market-rate housing at a national scale. Based on its nearly 30 years of experience and expertise, NRP now provides construction and property management services to outside owners and developers. For additional information, visit www.nrpgroup.com.