Opportunity Home Unveils $2.5 Billion Vision to Preserve and Expand Nearly 15,000 Affordable Homes
June 26, 2026
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As demand for affordable housing continues to rise and aging public housing communities face mounting financial challenges, Opportunity Home San Antonio has unveiled Strategy 2037: A Centennial Vision — a more than $2.5 billion roadmap to preserve, modernize and expand nearly 15,000 affordable homes over the next decade.
The strategy responds to two converging realities: rising demand for affordable housing and a federal funding model that no longer sustains aging public housing. More than 66,000 households are currently seeking affordable housing in San Antonio, while Opportunity Home faces more than $550 million in deferred capital repairs. It costs approximately $941 per month to operate a public housing home, yet federal funding provides about $440, creating an annual operating shortfall of nearly $17 million before major repairs are addressed.
For thousands of San Antonians, public housing provides the city’s only deeply affordable housing option. These communities are home to seniors on fixed incomes, working families and individuals with disabilities who depend on stable, affordable housing.
“This represents the largest investment in affordable housing in San Antonio since the New Deal,” said Michael Reyes, president and CEO of Opportunity Home. “For nearly a century, Opportunity Home has helped families build stable lives. Strategy 2037 is our commitment to protect the homes people rely on today, create new opportunities for tomorrow and build a stronger, more resilient affordable housing system for future generations.”
Unlike a traditional long-range plan, Strategy 2037 builds on work already underway, combining innovative financing, strategic partnerships and responsible investment to preserve existing affordable housing while expanding housing opportunities across the city.
A key milestone supporting the strategy is Opportunity Home’s recent S&P Global Ratings credit rating, making it only the third public housing authority in Texas to earn the designation. The rating expands access to lower-cost financing that will help preserve aging communities, develop new affordable housing and maximize public investment.
The more than $2.5 billion strategy includes approximately:
- $1.5 billion through housing tax credit financing
- $800 million supported by Opportunity Home’s expanded financing capacity, made possible through its national credit rating
- $200 million from additional federal housing preservation resources
Strategy 2037 establishes four key housing priorities:
- Preserve and modernize approximately 6,000 public housing homes to ensure they remain safe, financially sustainable and permanently affordable.
- Develop approximately 5,500 new affordable homes through strategic partnerships and responsible development.
- Acquire approximately 500 existing affordable homes to expand housing opportunities in areas with limited affordable housing options.
- Revitalize approximately 2,500 homes within Opportunity Home’s Affordable Housing Communities portfolio.
Beyond housing investments, Strategy 2037 strengthens partnerships with local governments, nonprofit organizations, educational institutions and the private sector to expand housing opportunities and connect residents with education, workforce development, digital access and other resources that support long-term economic mobility.
Strategy 2037 was shaped through extensive engagement with residents, employees, community partners and civic leaders and will guide Opportunity Home’s investments and decision-making through its centennial in 2037.
The unveiling of Strategy 2037: A Centennial Vision included a visit to Alazán-Apache Courts, where attendees saw firsthand the aging housing conditions driving the strategy, before concluding at Snowden Living. The event brought together elected officials, housing partners, community leaders, staff and residents in support of a shared vision for the future of affordable housing in San Antonio.
More information about Strategy 2037: A Centennial Vision is available at homesa.org/Strategy2037.