Published on March 24, 2025
Nova Lofts was supported by the 2022 Affordable Housing Bond
SAN ANTONIO (March 24, 2025) – City leaders, NRP Group, Community Housing Resource Partners, housing advocates, and community members gathered today to celebrate the opening of Nova Lofts, a transformative affordable housing development in District 10 that will provide 65 new homes for low- and moderate-income families. Developed by The NRP Group, Nova Lofts is the latest project supported by San Antonio’s 2022 Affordable Housing Bond, which has now successfully contributed to the creation of more than 830 affordable homes across the city.
Located at Rainbow Drive and Cloudhaven Drive, one block away from Austin Highway in the northeast side, Nova Lofts offers affordable homes at the following Area Median Income (AMI) affordability levels: 8 homes at 30% AMI, 25 homes at 50% AMI, and 32 homes at 60% AMI. In San Antonio, the AMI for a family of three is $79,700. A family of three earning 30% of AMI makes no more than $23,900 per year, ensuring that Nova Lofts serves those most in need of stable, affordable housing.
“Affordable housing isn’t just about providing a roof over someone’s head—it’s about ensuring that every person has a foundation for success,” said Mayor Ron Nirenberg. “Nova Lofts is a testament to what happens when we invest wisely, plan strategically, and prioritize people. This development will change lives for generations, and it is a proud reflection of San Antonio’s commitment to equity and progress.”
Nova Lofts represents a cornerstone of San Antonio’s Strategic Housing Implementation Plan (SHIP), a citywide initiative designed to address the growing need for equitable, sustainable, and deeply affordable housing. The SHIP prioritizes long-term affordability, targeted public investments, and partnerships that drive meaningful change—all of which are exemplified in Nova Lofts.
District 10 Councilmember Marc Whyte, who represents the area, emphasized the importance of expanding affordability in all parts of the city.
“The grand opening of Nova Lofts underscores a fundamental truth—affordable housing is not just an issue for one district, but for all of San Antonio,” said the Councilmember. “By welcoming Nova Lofts into our community, we are ensuring that families, seniors, and working individuals have access to quality, stable housing. This is a significant step forward in our mission to create a city where everyone can thrive.”
The Affordable Housing Bond has been instrumental in funding developments that provide deeply affordable housing, permanent supportive housing, and mixed-income communities, ensuring the city meets the needs of families at various income levels. Through strategic public-private partnerships and targeted investment, San Antonio is making unprecedented strides in expanding its affordable housing stock and addressing housing insecurity head-on.
“The 2022 Housing Bond and the homes it has created across San Antonio is a direct investment in the health and well-being of our residents,” said Veronica Garcia, Director of Neighborhood and Housing Services Department with the City of San Antonio. “This is not just about numbers—this is about families who now have a place to call home, children who have a stable environment to learn and grow, and individuals who can build a future with dignity. Nova Lofts represents the future of affordable housing in San Antonio.”
This is the second Affordable Housing Bond project the City and the NRP Group have partnered with, the first being Los Arcos at VIDA – which opened earlier this year.
“We are proud to celebrate Nova Lofts and the impact that it’s making in this community. Nova Lofts apartments were leased just a few weeks after opening, demonstrating the vital need for high-quality, affordable housing in San Antonio. The development’s prime location and the featured art mural contribute to the unique cultural vibrancy of the city,” said Jason Arechiga, NRP Group Senior Vice President of Development. “We are thankful for the incredible collaboration across all stakeholders that resulted in this success”
To date, the Affordable Housing Bond has committed over $115 million for the creation and preservation of more than 4,100 homes across San Antonio near jobs, transit, schools, and services. As San Antonio continues to implement innovative solutions to expand affordable housing, Nova Lofts stands as a beacon of what is possible when policy, investment, and community collaboration come together. Learn more about AMI affordability levels at SA.gov/AMI.
