Lucero Apartments is a Shinning Light on San Antonio's Westside


Nestled on Acme Road in San Antonio, Lucero is a partnership between The NRP Group and the


San Antonio Housing Trust Public Facility Corpo- ration (SAHTPFC). The multifamily residential community includes 324 units in a contemporary garden style community. With its location near Lackland AFB, Lucero brings quality affordable 1, 2, 3 and 4-bedroom apartments to an already well-established suburban neighborhood. This west San Antonio area is a growing employment region that lacks residential options at affordable rents, and Lucero meets the existing demand for


high-quality apartments. All of the units are affordable for individuals and families earning less than 60% of the Annual Median Income.


Lucero’s location in the neighborhood demonstrates tremendous loyalty to the area and is a direct result of the demand for housing for what has become the largest employment base in San Antonio. The multi-generational employment exists because collaborative investments between the military and private sectors in the region, including Lackland AFB, Kelly USA, and Port San Antonio. Seaworld, the medical community, and various light manufacturing/distribution companies also call this specific region of the city home.


The lack of land, opportunities, and workforce housing incomes have kept investors from devoting resources and revitalization efforts toward the community. The NRP Group and the San Antonio Housing Trust recognized a need for Class A product at af- fordable rent because young families wanted to return to the neighborhood where they grew up. In fact, half of Lucero’s resi- dents have families currently living in the neighborhood. Lucero Apartments is a success story of innovative design, financing, and revitalization in an area long ignored.


Because of its location at the western border of the Edgewood Revitalization Plan, Lucero meets the goals in a “REnewSA” target area by bringing $42.3 Million new investment to the area. Financing is through approximately $28 Million in tax-exempt bonds


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TALHFA


Summer 2019


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