Bond Projects
As part of the City of San Antonio’s Strategic Housing Implementation Plan (SHIP) and the voter-approved $150 million housing bond, Opportunity Home San Antonio received funding to build new income-based communities and expand and renovate existing ones.
Opportunity Home received $17.3 million in housing bonds in December 2022 for renovations at Woodhill Apartments ($6.7 million), Cottage Creek ($1.7 million), and Pecan Hill ($438,431); and another $218,655 toward the Westside Reinvestment Initiative, which focuses on building affordable single family homes in the historic community with the aid of HOPE VI grants.
In June 2023, City Council voted on the city’s selection to fund 14 additional housing projects totaling $32.1 million. Four Opportunity Home San Antonio affordable housing projects were selected to receive $8.3 million in funding. The funding marked the third batch of housing bonds and federal funds allocated for affordable housing.
The four selected Opportunity Home projects included three rehabilitation projects (Victoria Plaza Apartments, Midcrown Senior Pavilion, and The Ravello) and one homeownership project (Westside Reinvestment Initiative).
The SHIP identified more than 28,000 affordable housing units needing to be built or preserved. Projects for this third batch of funding were selected through a bidding process with all city funded units requiring the acceptance of housing vouchers.
Cottage Creek
Cottage Creek Apartments, a 449-unit (268 income-based/181 market rate) family development, received $1.7 million for rental rehabilitation, including replacement of 160 HVAC Units (CCI), asphalt pavement and sidewalks, and repair of playground equipment.
OVERVIEW
City Council District
D2
Projected Start Date
November 12, 2024
Projected Completion Date
April 3, 2026
Scope of Work
Replacement of 160 HVAC Units (CCI), replace asphalt pavement and sidewalks
Midcrown Senior Pavilion
$2.5 million has also been awarded to Midcrown Senior Pavilion, a 196-unit development serving elderly and disabled residents, for rehabilitation focused on Universal Design and energy efficiency features such as HVAC replacement and new appliances as well as security improvements.
OVERVIEW
City Council District
D2
Projected Start Date
December 9, 2024
Projected Completion Date
April 30, 2026
Scope of Work
Substantial Rehab
Pecan Hill Apartments
Pecan Hill Apartments, a 100-unit development serving senior adults, received $436,250 for rental rehabilitation, including substantial upgrades and repairs to passenger elevators, plus related building code and life safety components to include fire alarm, HVAC and electrical improvements.
OVERVIEW
City Council District
D1
Projected Start Date
March 30, 2024
Projected Completion Date
March 30, 2026
Scope of Work
Elevator Modernization
The Ravello
The Ravello, a 252-unit development serving senior adults 55 years and older, received $2.5 million for rehabilitation focused on Universal Design and energy efficiency features such as HVAC replacement and new appliances, plus fire alarm and security improvements.
OVERVIEW
City Council District
D3
Projected Start Date
December 9, 2024
Projected Completion Date
April 26, 2026
Scope of Work
Substantial Rehab
Victoria Plaza Apartments
Victoria Plaza Apartments, a 185-unit development serving senior and disabled residents, received $2.5 million for overall renovation, including new energy-efficient roof and stormwater capture improvements, and a new solar panel system to offset electricity usage.
OVERVIEW
City Council District
D1
Projected Start Date
June 24, 2024
Projected Completion Date
January 21, 2025
Scope of Work
Roof replacement, solar panel system installation, gutter and downspout replacement, concrete powersharing and crack repairs, and installation of two 10K gallon tank rainwater cisterns
Updates
(photo taken Sept. 2024)
August 2024
Opportunity Home San Antonio has begun enhancements and rehabilitation to Victoria Plaza Apartments. Currently, roof replacement and exterior concrete crack repairs have commenced.
Westside Reinvestment Initiative (WRI)
The Westside Reinvestment Initiative (WRI) will include a total of 25 homes WRI received $218,655 in bond funding to complete the construction of the first five homes. The funding is being utilized to maximize the ability for families whose income meets 60-80% of Area Median Income (AMI) to become homeowners and to support homeowners to not pay more than 35% of their monthly income on their monthly mortgage payment.
Bond funds are needed to increase affordability for homeowners by increasing the closing-cost subsidy awarded to each homeowner and maintaining current sale prices, despite the rising cost of construction. This will allow for a lower home loan by providing funding to buy down the mortgage and rate. Maintaining current sale prices will also allow WRI to target families at 60-80% AMI who would otherwise not qualify for homes priced at market rate, which meets the Request for Proposal (RFP) requirements.
OVERVIEW
City Council District
D5
Projected Start Date
November 1, 2023
Projected Completion Date
September 12, 2024
Scope of Work
5 of 25 new single-family homes with Bond funds at Villa de Fortuna located on Precious Drive
Updates
(photo taken Feb. 20, 2024)
February 2024
The first five homes are under construction, and are estimated for completion by April 2024. The next phase of the project is the Palm Lake Subdivision, and will include four new homes. This is currently undergoing environmental soil clearance and the timeframe is still being established.
(photo taken Feb. 20, 2024)
August 2024
The first WRI five homes at Villa de Fortuna located on Precious Drive are nearly complete, with full completion of construction slated for September 12, 2024.
(photos taken Sept. 20, 2024)
September 2024
Construction has been completed for the first five homes.
Woodhill Apartments
Woodhill Apartments, a 532-unit family development, received $6.7 million for rental rehabilitation.
OVERVIEW
City Council District
D8
Projected Start Date
November 12, 2024
Projected Completion Date
April 3, 2026
Scope of Work
Replace aluminum windows, repair siding, replace sliding doors, asphalt repairs, replace privacy fence.