NRP Group is set to move forward with a new mixed-use development at Brooks, the former Air Force base. The $78 million project will include 349 market-rate apartments and retail space, and construction is expected to begin in November. This development is made possible through a partnership between NRP Group and the Brooks Development Authority, with plans for the structures to be located on the northwest side of Loop 410 and Interstate 37 interchange.
According to reports from The San Antonio Business Journal, construction will take approximately 22 months with units becoming available for move-in within 16-17 months. The apartment buildings will occupy about 13 acres on the northern portion of the property which NRP Group has leased from Brooks at an initial rent of $75,000 per year with a yearly increase of three percent. Leasing for retail spaces will be handled by Brooks.
The design firm Alta Architects has been selected as part of this project’s team.
Brooks continues its efforts in developing various types of housing including affordable-rate projects, build-to-rent developments,and market-rate developments.
