Atlantic Pacific to Break Ground on San Antonio Affordable Community
The property will serve residents earning below 60 percent of the area median income.
Atlantic Pacific Cos., in a partnership with Opportunity Home San Antonio, will break ground today on Vista at Reed, a 56-unit, income-restricted community in San Antonio. The developers also partnered with the City, OCI Development and PNC Bank for the project.
Vista at Reed will serve residents earning at or below 60 percent of the area median income. A total of six units will be reserved for individuals or families earning at or less than 30 percent of AMI, while an additional 13 units will be designated for households earning up to 50 percent of AMI.
Upon completion, the four-story building will comprise two- and three-bedroom units. Common-area amenities are set to include a business center, a fitness center, a clubhouse and laundry facilities. The community is also slated to host recreational activities such as book clubs, creative writing classes, tax preparation classes and health and wellness programming.
Located at 8327 Reed Road, the site is close to public transportation options and Ingram Park Mall. It is also near Interstate 410 and roughly 10 miles from downtown San Antonio.
Expanding in the Southwest
Atlantic Pacific currently has more than $5.7 billion of assets under management and 21,000 multifamily units under management. The firm operates across Florida, Texas, California, Georgia, North Carolina, Maryland and Washington D.C.
In August, Atlantic Pacific broke ground on Vista at Silver Oaks, a 76-unit affordable housing community in San Antonio, in partnership with Opportunity Home San Antonio. OCI Development, the City of San Antonio and PNC Bank were also involved in the project.
And, last April, Atlantic Pacific opened The Arbor at Wayforest, a 192-unit affordable multifamily community in Houston. Completed in partnership with the Harris County Housing Authority, the project was meant to replace housing stock lost in Hurricane Harvey.
