Daily Newsletter

06 November 2023

Daily Newsletter

06 November 2023

NRP begins construction on new housing community in Texas

The site will feature a three-storey central structure with elevator-accessible units.

November 06 2023

American real estate developer NRP Group has commenced construction on a new apartment community in Schertz, Texas, US.

Dubbed Aviator 1518, this project will have 300 apartment units and feature amenities such as an on-site pool, a clubhouse, a playground, and a fitness centre.

According to the company, the project is the first affordable housing development being constructed in collaboration with the Schertz Housing Authority.

Schertz mayor Ralph Gutierrez said: “Central Texas has experienced immense growth over the past decade, and Schertz has felt this expansion across new industries, population, education, and retail.

“The demand for a dynamic range of housing in our community has never been higher, and we are thrilled to welcome Aviator 1518 to Schertz for our community.”

The complex’s three-storey central structure will have elevator-accessible units, and the neighbourhood is located within the Schertz-Cibolo-Universal City Independent School District.

The Texas Department of Housing and Community Affairs provided 4% housing tax credits to help fund the building.

Alta Architects, Bank of America, Bexar County, Coats Rose, and MTR Engineering are among the other development partners involved in the process.

NRP Development senior vice-president Jason Arechiga said: “Our mission to support communities with high-quality housing comes to life when all project partners are aligned on the same goal, which is to provide affordable opportunities to residents that need them most.

“Today would not have been possible without the assistance of the City of Schertz, whose leadership recognised the need for workforce and affordable housing options as the city continues to grow and attract commercial and industrial opportunities.”

Aviator 1518 is scheduled to be completed in 2026, with presales to commence in 2025.

Investment in the infrastructure and energy & utilities sectors remains a major driver of overall construction growth

Infrastructure and Energy & Utilities sectors expanded in 2020 despite COVID-19 disruptions, which reflected the efforts by governments and public institutions to accelerate investment to stimulate activity. The recovery from the pandemic and the easing of restrictions allowed the resumption of work on major projects in 2021, and growth is set to remain strong in the coming years, particularly given major investment programs in the US and China.

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