The NRP Group LLC will launch its first project in the San Antonio suburb of Cibolo, TX. The developer, in partnership with the Cibolo Public Facility Corp., (PFC) will break ground today on Trophy Oak, a 324-unit apartment complex on FM 78 between Red River Ranch and South Main Street. The NRP/PFC partnership will ensure that some of the new units will be affordable.

Preleasing on the $41 million project is expected to begin by fall 2020, with construction scheduled for completion by summer 2021. Davies Collaborative is the architect of record.

The NRP Group and any future owners will be able to avoid paying property taxes on the 12-building complex, so long as 50% of the units are reserved for renters earning 80% or less of the area median income. Additionally, the PFC will own the land for the next 75 years.

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