NRP Under Contract for 54 Acres
NRP Group is under contract to buy 54 acres of vacant land near the Brooks master-planned development on San Antonio’s far south side. The land grab at Presa Street and Corpus Christi Highway would be one of the largest developer investments made on the South Side in recent years. Brooks Development Authority, which operates Brooks, is the land’s seller.
Once the transaction has closed, NRP Group, which is headquartered in San Antonio, will begin retail and multifamily development. The company plans to use 15 acres for a 320-unit apartment complex, on which it is partnering with the San Antonio Housing Trust Finance Corp. The project, which would go north at a $49-million price tag, would be geared toward residents earning between 50%-60% of Bexar County’s median income.
If everything goes according to plan, the complex’s first buildings could be online by July 2019.
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