Opportunity Home Celebrates New Homeownership Development on San Antonio’s Westside
Opportunity Home San Antonio commemorated the completion of four new single-family homes under its Westside Reinvestment Initiative, a program that helps middle-income families achieve the dream of homeownership.
The ribbon-cutting ceremony in the Palm Lake subdivision featured remarks from San Antonio Mayor Gina Ortiz Jones, State Senator José Menéndez, Opportunity Home President and CEO Michael Reyes, Opportunity Home Board Chair Estrellita Garcia-Diaz, and Opportunity Home Executive Vice President of Development and General Counsel Timothy Alcott.
Each speaker highlighted the importance of expanding affordable homeownership opportunities for families purchasing their first homes. For households earning between 60% and 80% of the Area Median Income, owning a home provides the chance to build stability, thrive in their community and create lasting memories.
“Today, we celebrate possibilities,” said Opportunity Home President and CEO Michael Reyes. “Soon, these homes will be filled with children running in the backyard, a Christmas tree in the house and holiday meals. That is what makes the Westside Reinvestment Initiative special — it helps families build stability, plant roots and foster a better future.”
Mayor Gina Ortiz Jones also reflected on her own family’s journey to homeownership.
“I remember distinctly when I was in middle school, and my mom, who raised my sister and me by herself, proudly closed on her first home,” said Mayor Jones. “For her, it was an opportunity to realize what is possible in our country. It is important that we have opportunities like this for families to build equity.”
Following the ceremony, attendees toured the newly completed homes, featuring two- and three-bedroom floor plans, a two-car parking pad with a one-car garage, Whirlpool refrigerator, electric stove, microwave, and dishwasher. Each kitchen is finished with Formica countertops, and all homes include washer/dryer connections, landscaped yards, fenced backyards, a two-year homebuilder warranty, and a security system with motion detectors.
All four homes, priced between $165,000 and $185,000, have received accepted offers and are expected to close within the next 45 days.
With the first four homes in Palm Lake now complete, construction is underway on seven additional homes, scheduled for completion by March 2026. The total development cost for all 11 homes is $2.26 million, including $1.8 million from Opportunity Home’s sales and general proceeds. The City of San Antonio contributed $455,455 through its HOME Investment Partnerships Program, highlighting a strong partnership to expand attainable housing opportunities for working families.
The homes are located near Edgewood Independent School District campuses, major universities such as Our Lady of the Lake University and St. Mary’s University, city parks, and major roadways including IH-10.
Eligible buyers include first-time homebuyers and individuals who have not owned a home within the last 18 months. Participants in the Middle Income Homeownership Program must meet the following requirements:
- The home must serve as the buyer’s primary residence.
- Completion of a HUD-approved Homebuyer Education class and with proof of certification.
- Mortgage approval through a Federal Housing Administration (FHA), Veterans Affairs (VA), or conventional lender.
- Compliance with a 10-year appreciation recapture provision.
- Household income must be at or below annual HUD Income Limits for 2025 of 80% AMI or below.