The Lynd Group has started construction on a 360-unit mixed-income development on the Far West Side of its hometown of San Antonio. The vertically integrated real estate firm is partnering with the San Antonio Housing Authority (SAHA) and Santikos Enterprises, an entertainment and real estate social enterprise overseen by the San Antonio Area Foundation to develop Potranco Commons.
“Lynd is honored to partner with two very esteemed organizations such as Santikos and the San Antonio Housing Authority on this amazing project,” said CEO A. David Lynd. “Potranco Commons will bring the highest-end construction quality, amenities, and unit finishes to the market while keeping rents affordable. This program with SAHA is ensuring that San Antonians of all income levels have the opportunity to enjoy this quality housing.”
Monthly rents will range between $834 and $1,865, with approximately 50% of the units available for households earning 80% or less of the area median income for Bexar County. The development will include one- to three-bedroom floor plans between 533 and 1,345 square feet.
Residents will have access to a wealth of amenities, including a clubhouse, a swimming pool and cabanas, a fitness center, grilling stations, a DJ station, and ample green space. Lynd will be responsible for building, leasing, and managing the property, which is slated for completion in the second quarter of 2024.
“We selected Lynd for this project because of its best-in-class reputation as a developer, and this will be great for the San Antonio community in many ways,” said Tim Handren, CEO of Santikos Enterprises. “John Santikos, [an entrepreneur and real estate developer known for his movie theater chain], left his estate to the San Antonio Area Foundation so that his business would continue to operate and the profits could be distributed back to the community through the foundation. With an eye toward affordable housing, we are proud to partner with Lynd and SAHA to make this project a reality.”
