Opportunity Home Receives COSA Bond Funding to Build, Expand and Renovate Communities
Dec. 15, 2022
Opportunity Home San Antonio will be receiving $17.3 million in housing bonds from the City of San Antonio to build new income-based communities and expand and renovate existing ones after the San Antonio City Council approved housing bond funding today.
Approximately $8.2 of the $17.3 million approved funds will be allocated toward the expansion of Alazan Courts in Opportunity Home’s most historic neighborhood. The Alazan expansion will include the additional 65 units in the community and is scheduled to begin construction early next year.
Able City, the master planner overseeing the Alazan expansion, completed its almost year-long master plan study in October.
Other Opportunity Home communities approved to receive funds for renovations include: Woodhill ($6.9 million), Cottage Creek ($1.7 million) and Pecan Hill ($438,000). Another $218,655 will go toward the Westside Reinvestment Initiative, which focuses on building affordable single family homes in the historic community with the aid of HOPE VI grants.
“We are full of gratitude to the City of San Antonio, the City Council and voters of San Antonio for approving these funds to Opportunity Home that will help us create thriving communities and renovate and expand on existing ones for current and future residents,” said Opportunity Home President and CEO Ed Hinojosa, Jr. “We have thousands of San Antonians on our waitlists who are in dire need of affordable housing and so these funds will help us move full steam ahead to create as many new housing opportunities as possible.”