A new affordable housing project is in the works for San Antonio, with OCI Group Development and Atlantic Pacific Companies teaming up to develop a mixed-income apartment complex. The 85-unit development, named “Vista Park,” will be located on an empty lot at Nacogdoches Road and Spring Farm Street. With a budget of $22.3 million, funding from Truist Bank will primarily consist of debt and equity financing, along with $2 million in low-income housing tax credits.
The planned layout for Vista Park includes 60 two-bedroom units and 25 efficiencies. Of these units, 54 will be offered at 60% of the area median income (AMI), while another 22 units will be reserved for those at or below the AMI threshold of 50%. Additionally, there are plans to set aside seven units for renters earning just above poverty level (30% AMI) and two more designated specifically for those making even less (20% AMI).
OCI’s mission is rooted in their belief that promoting social good can have positive impacts on both business success as well as community well-being.
