NRP to Move Ahead on $78M Brooks Apartments

NRP appears ready to proceed with a $78 million mixed-use development at Brooks, the former Air Force base. The project, which would add 349 market-rate apartments and retail space, is expected to start construction in November. As a result of a partnership between the Brooks Development Authority and NRP Group, the structures would rise on the northwest side of the Loop 410 and Interstate 37 interchange.

The San Antonio Business Journal reports that construction will take 22 months, and the first units will be ready for move-in within 16 to 17 months.

The apartments will sit on about 13 acres on the north part of the parcel, which NRP Group will lease from Brooks at $75,000 in rent for the first year with a 3% yearly increase. Brooks will handle leasing on the retail portion.

Local design firm Alta Architects is attached.

Brooks is currently working on several housing types, including affordable-rate projects, build-to-rent developments, and market-rate developments.