A new affordable housing project in San Antonio, employing several funding methods, is under consideration by a duo of multifamily community developers. OCI Group Development and Florida-based Atlantic Pacific Companies are planning a mixed-income apartment complex on a currently empty lot at Nacogdoches Road, just north of Spring Farm Street. Called “Vista Park,” the 85-unit development is expected to cost about $22.3 million. Debt and equity funding are mainly coming from Truist Bank. Additionally, there will be $2 million in 9% low-income housing tax credits.

Vista Park would be divided into 60 two-bedroom units and 25 efficiencies. 54 units would be offered at 60% of the area median income (AMI), 22 units would be set aside at 50% AMI, 7 units would be held for 30% AMI and the remaining 2 units would be earmarked for 20% AMI renters.

OCI says it was founded on the premise that “social good” is good for business and good for communities.