New Affordable Housing Community, The Baltazar, Opens on San Antonio’s Northwest Side

Strategically Located Near Jobs, Schools, and Healthcare

SAN ANTONIO--(BUSINESS WIRE)--The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, in partnership with Opportunity Home San Antonio and the City of San Antonio Neighborhood & Housing Services Department (NHSD), has opened The Baltazar, a new $20.4 million mixed-income apartment community on the city’s Northwest Side. Supported by several funding sources, the development underscores The NRP Group’s ongoing commitment to increasing affordable housing options in San Antonio. The community is already 100% leased, highlighting the strong demand for affordable housing in the area.

Located at 12055 IH-10 West, The Baltazar is a 60-unit multifamily community offering one- to three-bedroom floor plans for residents earning 30% to 60% of the area median income (AMI). The development is deeply affordable, with 10% of units designated for households at 30% AMI. The $20.4 million project was made possible through multiple funding sources, including the Texas Department of Housing and Community Affairs’ highly competitive 9% affordable housing tax credit resulting in a $15 million award by the state in 2021.

"Creating sustainable and affordable housing presents significant financial challenges due to increasing demand and rising construction and maintenance costs," said Nick Walsh, vice president of development at The NRP Group. "We are grateful to every organization, individual, and department that came together to make The Baltazar possible — especially the City of San Antonio and Opportunity Home for their continued commitment to supporting communities in need of quality, affordable housing options."

The Baltazar is named in honor of Baltazar Serna Sr., a hardworking San Antonian who spent years serving at Kelly Air Force Base and later became an entrepreneur, striving to build a better future for his family. His journey led his family to the North Side of San Antonio, an area that has since flourished as a diverse and vibrant community.

"My father's journey was one of relentless hard work to open doors for his family. The Baltazar aims to do the same for others," said Baltazar “Walter” Serna Jr. "It's about creating an affordable and inclusive space where people from all walks of life can build their own futures. That spirit of opportunity, which my father championed throughout his life, is what this community is all about."

Residents at The Baltazar have access to a range of amenities, including a fitness center, children's playscape, barbecue grills, picnic tables, and a furnished community room. The property is conveniently located near the University of Texas at San Antonio, major employers, essential businesses, and the Medical Center, providing easy access to work, education, and healthcare services.

Community Housing Resources (CHR), a nonprofit dedicated to providing critical resources to residents, serves as a partner for the project. CHR will provide a range of services that residents can benefit from including health screenings, ESL services, and after school programs.

The City of San Antonio played a critical role in ensuring The Baltazar remained accessible to low- and moderate-income families. The project reflects a broader effort to address the housing needs of San Antonio residents.

"As San Antonio continues to grow, so does the demand for housing," said District 8 Councilman Manny Pelaez. "I'm proud to have supported this project, which addresses that need right here on the Northside in District 8. I'm grateful to our partners for their leadership and dedication to ensuring working families can access high-quality housing, and also the surrounding neighbors who supported this project and recognized that affordable housing can be beautiful and make a real difference in uplifting our community.”

Development partners include Hudson Housing Capital, Chase, Texas Department of Housing & Community Affairs, NHSD, Alta Architects, MBC Engineers, NRP Construction, and Opportunity Home San Antonio.

For more information about The Baltazar and its impact on affordable housing in San Antonio, visit thebaltazarapts.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 62,000 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 has been consistently named a largest developer and builder in the U.S. on the NMHC “Top 50” lists, the Top 5 on the Multi-Housing News’ “Top Multifamily Developers” list, named a Top Affordable Housing Developer by Affordable Housing Finance, and has won three NAHB Pillar awards since 2020 for Development, Construction and Ones to Watch. 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 over 30 years of experience and expertise, NRP provides construction and property management services to outside owners and developers. For additional information, visit www.nrpgroup.com.

City of San Antonio - Vibrant & Thriving
San Antonio is a vibrant city with a thriving economy, deep cultural heritage and communities that are compassionate, inclusive and proudly diverse. It is the seventh largest city in the United States and one of the strongest fiscally managed cities in the country, nurturing entrepreneurship, encouraging investment and funding infrastructure. The City fosters partnership and growth opportunities in aerospace, bioscience, cybersecurity, green technologies, healthcare, and information technology. San Antonio’s famed Riverwalk and Alamo are the top tourist attractions in Texas, and its historic missions are a designated World Heritage Site – the first and only in Texas. Proudly called Military City, USA^®, San Antonio is home to one of the largest populations of active-duty military and veterans, as well as mission-critical commands, including military medicine, cybersecurity, pilot training and basic training. For more information, visit SanAntonio.gov and follow @COSAGov on social.

About Opportunity Home
Opportunity Home provides housing assistance to more than 57,000 children, adults, and seniors through its Public Housing, Assisted Housing, and Mixed-Income Housing programs. The Agency employs more than 556 individuals, with an annual operating budget of $185 million, and real estate assets valued at more than $550 million. Opportunity Home’s affordable housing programs include 70 public housing properties, more than 14,000 vouchers in the Housing Choice and Special Voucher Programs and 27 properties in a Mixed-Income portfolio. They empower and equip families to improve their quality of life and to achieve economic stability through its commitment of funding and allocated resources and direct collaboration with local partners.