NRP Group JV Opens Texas Affordable Community

The NRP Group, together with Capital Area Housing Finance Corp., has opened Centro35, a 330-unit affordable community in San Marcos, Texas. The property will house residents earning up to 60 percent of the Area Median Income.

This completion comes on the heels of NRP’s most recent addition in Austin, Texas—the 318-unit Bridge at Estancia.

Centro35 came online with the help of tax credit equity from Huntington Community Development Corporation and permanent financing procured by Bellwether Enterprises and Deutsche Bank.

Centro35 has 10 three-story buildings. Unit layouts vary from one- to four-bedroom floorplans with sizes ranging from 656 to 1,378 square feet. Shared amenities at the pet-friendly property include a swimming pool, fitness center, children’s activity room, game room and a conference center with individual work pods for remote work.

Community Housing Resource Partners hosts resident services at the San Marcos community, such as health screenings, after-school programming, financial literacy training and English courses.

NRP expands its Texas portfolio

Centro35 is at 508 Labrador Blvd., just off Interstate 35. Most eateries and retail options are along this thoroughfare, within 10 miles. The property is less than 1 mile from the San Marcos Premium Outlets shopping center. Centro35 is some 40 miles from both San Antonio and Austin.

Centro35’s opening comes on the heels of a few other completions for the developer’s Texas portfolio. In March, NRP completed The Markson, a 330-unit mixed-income community in Austin, in partnership with the city’s Housing Authority. In February, it finished Station42, a 368-unit mixed-income asset in Killeen, Texas. Both properties are for residents earning up to 80 percent of the AMI.