SAN ANTONIO – The City of San Antonio announced a fourth apartment complex is completed as part of the 2022 Affordable Housing Bond, according to a press release.
The apartment complex — Nova Lofts — is a 65-unit, multi-family complex located in District 10.
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The city held a ribbon-cutting ceremony for the complex with San Antonio Mayor Ron Nirenberg and District 10 Councilman Marc Whyte at 10 a.m. on Monday, March 24.
The new complex is located at 127 Rainbow Road Drive on the Northeast Side of San Antonio.
Nova Lofts provides amenities such as an outdoor playground, business center and fitness room.
Income limits are capped at 30% of the average median income (AMI) for eight units, 50% AMI for 25 units and 60% AMI for 32 units.
Gary Cooper, a spokesperson for the city’s Neighborhood & Housing Services Dept., told KSAT that rental rates range from $425-$919 for a one-bedroom apartment; $501-$1,095 for a two-bedroom apartment; and $580-$1,267 for a three-bedroom apartment.
Cooper also said that as of now, occupants have secured all of the units. People interested in living in Nova Lofts can sign up to be placed on a waitlist. They can either call the property manager at 866-702-5882 or visit www.novaloftssanantonio.com.
Nova Lofts was developed by The NRP Group and holds a 40-year covenant, which ensures affordability for current and future residents.
The total development cost was $23.6 million and $3 million from the bond was contributed, the release said.
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