San Antonio’s Brooks Betting Big on BTR

Called Los Cielos, the community is slated for 500 single-family built-to-rent residences and duplexes. Earth moving is currently underway, and living units will begin construction next month. It’s the first of three phases of the project at Brooks, formerly the site of Brooks Air Force Base. The base was closed down during the 2002 wave of base closures and has been turned into the Brooks Development Authority, with hopes that it would be redeveloped.

Baton Rouge-based Provident Resources Group will operate the property under the auspices of a 60-year lease through a public/private partnership inked with Brooks Development Authority. Preston Hollow Community Capital secured $185 million in tax exempt bonds for the project.

The community will include a leasing center, fitness center, pickleball court and dog park, among other common amenities.

The developments at Brooks are part of a push to incentivize development in the historically disenfranchised area, which is a federally designated opportunity zone.