SAN ANTONIO, March 28, 2018 /PRNewswire/ — Today developers hosted official ground breaking ceremonies at Medio Springs Ranch, a $54 million premium workforce housing apartment community which offers residents of Bexar County a truly quality-built and affordable home. Veterans, neighbors and friends joined event speakers that included local, county and state leadership.
Located at 1530 Marbach Oaks., San Antonio, TX 78245, Medio Springs Ranch is a 348 unit multi-family community set on 16 acres in far West San Antonio. The new apartment community is being developed in a public/private joint venture of Hogan/HomeSpring Realty Partners and the Housing Authority of Bexar County. Bellwether Enterprise Real Estate Capital and Enterprise Community Investment provided the financing and equity for the project.
Medio Springs Ranch will offer one, two and three bedroom apartment homes in sixteen (16) buildings constructed with 100 percent masonry and a standing-seam metal roof. Twenty five (25) first floor homes will be fully adapted to accommodate persons of disabilities and wounded warriors. With eight different floor plans, apartments will range from 754 to 1,178 square feet with proposed monthly rents ranging from $662.00 to $970.00.
The construction of Medio Springs Ranch is another step toward fulfilling the need for quality apartment homes that the San Antonio community can afford. Bexar County Judge, Nelson Wolff was enthusiastic and commented, "Our strong economy is enticing more people to move to Bexar County. Working families need a decent place to live. This project shows how the private and public sectors can collaborate to fulfill the growing demand for workforce housing." In a show of support Bexar County Commissioner Chico Rodriquez stated, "This is the largest single investment of its kind, bringing the total to 600 affordable living units with $89 million invested for residents of Western Bexar County completed in Prct.1 this past year."
Interim Executive Director of the Housing Authority of Bexar County, Tammye Trevino, says, "The development of Medio Springs is truly a changing point in our agency’s ability to provide for the housing needs of Bexar County. We are grateful for the possibilities of a quality life experience for our future residents and we owe it to the strength of our partnerships with Bexar County, TDHCA, HUD and of course, the vision of our private sector investors."
A community like Medio Springs Ranch really speaks to the commitment that the Housing Authority of Bexar County has to providing great affordable options for our community. Kirk Francis, Chairman of the Board for HABC, adds, "The Medio Springs Ranch development will help residents on the southwest side of Bexar County find affordable housing when other options may not be available. We applaud Mike Hogan for his vision and persistence in seeing this development through to completion. This project is another example of how HABC creates diversified and affordable housing opportunities that encourage stability and economic independence for Bexar County residents."
Hogan/HomeSpring Realty Partners is a local development company, and the construction of Medio Springs Ranch will push the company’s total affordable units developed in Bexar County and Texas over the 3,000 mark. Mike Hogan, president of Hogan/HomeSpring Realty Partners, adds, "Medio Springs Ranch represents a mile stone for our affordable housing division and is the largest all affordable new construction project ever done in Texas. We are proud that the Housing Authority of Bexar County agreed to be our partner and create a public/private venture to help our effort to expand the much needed affordable housing to the citizens of Bexar County."
Medio Springs Ranch was designed by Gonzalez, Newell, Bender Inc. architects and is being constructed by Galaxy Builders, Ltd. Medio Springs Ranch will feature ceiling fans, private patios, walk-in closets, washer/dryer connections, frost-free refrigerators with icemakers, microwaves, high speed internet service, and each one will be cable ready. Residents will also appreciate the All Electric Energy Star appliances and that Medio Springs Ranch will be constructed to the Build San Antonio Green Level 1 standards saving hundreds of dollars a year in energy usage for each apartment home.
Medio Springs Ranch’s clubhouse/community center will feature a business center, wheel chair accessible swimming pool, basketball/shuffle board court, central laundry facility and community activity center. It also will have controlled access with remote entry, video surveillance and limited covered parking.
FOR INFORMATION CONTACT:
Michael A. Hogan, 210-682-1500, Ext. 130
Kelley Liserio, 210-682-1500, Ext.112
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SOURCE HomeSpring Realty Partners
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