Opportunity Home Celebrates New Downtown Affordable Housing
Nov. 6, 2024
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Today, Opportunity Home San Antonio, in partnership with Franklin Companies, celebrated the grand opening of 100 Labor Downtown Apartments located in the heart of downtown San Antonio. 100 Labor represents a valuable addition to Opportunity Home’s community-focused, community-led affordable housing initiatives.
Centrally located, this 213-unit transit-oriented development offers picturesque views of the Tower of the Americas, Hemisfair, and the Alamodome. It also offers close access to job opportunities, transportation, health care, restaurants, and arts and culture.
In partnership with Franklin Apartment Management, Opportunity Home built this contemporary, innovative housing opportunity with 44 units designated exclusively as subsidized income-based units, which means rent will be based on 30% of the tenant’s income, with the remaining units being market rate.
Speakers included Ron Nirenberg, San Antonio Mayor; Tim Alcott, Opportunity Home Executive VP of Development and General Counsel; Michael Reyes, Opportunity Home Acting President and CEO; Chair Gabriel Lopez, Opportunity Home Board of Commissioners; Zuleika Morales-Romero, HUD San Antonio Field Office Director; Ryan Wilson, Franklin Development Executive Vice President; Dr. Sukh Kaur, District 1 Councilmember; José Menéndez, State Senator District 26; and James Schaefer, 100 Labor resident.
“100 Labor represents future affordable housing possibilities Opportunity Home looks to develop and deliver to the residents we serve in our city. This community is the type of development our residents who live and work in the urban core need,” said Lopez. “In the spirit of our mission, we want to ensure that households from all socioeconomic levels will be able to live in this high-demand area of the city.”
“This community stands as a vibrant reminder of just how much progress has been made on the site of the former Victoria Commons. This signature development is the gateway to the Lavaca neighborhood and symbolizes how to provide the highest quality affordable housing,” said Wilson. “Our overarching goal of reflecting the unique character and heritage of San Antonio in the architecture and planning can be seen in this community, blending indoor and outdoor living in courtyards and paseos and using vibrant color at key moments. 100 Labor is truly a capstone to the Lavaca neighborhood revitalization efforts.”
In addition, through a bulk lease agreement, a total of 26 of the units will be used for short-term housing for traveling medical, business, and other professionals or people new to the area looking for permanent housing, helping to accommodate economic growth in the city. 100 Labor will also include commercial space with four spaces available for local businesses to rent, adding value and services to both the local neighborhood and the San Antonio community.
Most significantly, this model will generate income to help cover the cost of the subsidized units and support our public housing portfolio across the city. All the units will remain owned by Opportunity Home under its Beacon, non-profit housing portfolio.
“This type of workforce housing development is needed as the residents who work downtown lack the transportation options and access to opportunities, services, and resources needed to thrive,” said Reyes. “100 Labor represents an essential piece in addressing our city’s housing needs.”