The NRP Group Breaks Ground on Trophy Oak Development, Brings 300 Essential Workforce Apartments to Cibolo

SAN ANTONIO, Sept. 26, 2019 /PRNewswire/ -- The NRP Group, a vertically-integrated, best-in-class developer, builder and manager of multifamily housing, today announced it will break ground on its new Cibolo development, Trophy Oak. The ceremony took place at 10:00 a.m. with the City Manager of Cibolo, Robert T. Herrera among other city officials in attendance. 

"We know that Cibolo is on the rise, and with that progress we're thrilled that Trophy Oak will meet the needs of our growing population. This project demonstrates NRP's talent and skill as a developer and as a partner," said Robert T. Herrera, City Manager of Cibolo."

With Cibolo recently being named as one of the fastest growing cities in Texas, Trophy Oak is in a prime location with competitive pricing near numerous shops and restaurants. Once developed, Trophy Oak will be a key place for young professionals, families, and retirees to live and also enjoy local retail. Trophy Oak will feature 12 buildings with a total of 324 units, a clubhouse, six garages, a maintenance building, eight carport structures and a swimming pool. It will be comprised of one-, two- and three-bedroom apartments in three-story buildings with balconies, contemporary kitchens with stainless steel appliances, ample surface parking and attached garages.

In partnership with the Cibolo Public Facility Corporation, about half of the apartments at Trophy Oak will be set aside as essential workforce housing units and reserved for those who make 80 percent or less of the area median income.

"Trophy Oak is an example of NRP's continued commitment to the economic growth of Texas. As our communities thrive, one of the key components needed to attract high paying jobs is quality affordable workforce housing," said Debra Guerrero, Vice President of Government Affairs for The NRP Group. "We value this opportunity to partner with the city of Cibolo as it allows us to fulfill our mission of creating homes for families regardless of income."

In July, Aisin AW announced its plans to build a $400 million automatic transmissions manufacturing plant in Cibolo. The company, who is based in Japan, said the plant will bring about 900 jobs to the area. With new economic opportunities, Cibolo city officials express the importance of providing diverse housing options for the growing workforce.

"We're excited about Aisin AW's arrival and the possibility of other businesses choosing our wonderful city as their next location. Trophy Oak comes at the perfect time to provide essential workforce housing," said Herrera.

The Trophy Oak community is part of a D.R. Horton 148-acre master planned development. D.R. Horton is currently in the works of developing a community and using the 18 acres along FM78 and Main Street for commercial and retail use.

"With this being the first multifamily community in Cibolo, we respect the city's thoughtful and considerate decision to choose NRP. We are thankful for this partnership and we're excited to see the impact that this development will make in the future," said Robert Thies, Assistant Developer for The NRP Group.

Trophy Oak is set to be completed by Spring 2021.

About The City of Cibolo:
The City of Cibolo became a home ruled City in 1965. Cibolo is located in Guadalupe County, with a small portion in Bexar County. The city limits stretch from I35 down to I10 and house a population of 31,000+ that continues to grow every day. On average, Cibolo welcomes 370 new homes and 1200 new residents every year. With a mixture of both suburban and rural lifestyles, Cibolo is one of the fastest growing suburbs on the I35 corridor, and is expanding its industrial, retail, and quality of life to meet the needs of the population. Cibolo is continuing to evolve, while honoring traditions of the past, which is why many families view Cibolo as the "City of Choice" for their businesses, families, and activities.

About The NRP Group LLC:
The NRP Group is a vertically integrated developer, owner, builder, and manager of best-in- class multifamily housing. Since its founding in 1994, NRP has delivered more than 35,000 apartment homes, and currently manages over 19,000 residential units. The company utilizes the entire breadth of its in-house capabilities to fulfill its mission: creating exceptional rental housing opportunities for individuals and families, regardless of income.

Through its disciplined approach to vetting opportunities, NRP has established a track record of delivering impressive returns for investors. The company's formidable size and depth of talent provides the experience and infrastructure necessary to execute developments of varying degrees of complexity and scope in both urban-infill and suburban locations, including market- rate, affordable, and senior housing. As a three-time recipient of the National Association of Builders Multifamily Development Firm of the Year and recognized Top 25 Developer by Multifamily Executive, NRP is leveraging its decades of practice by also providing construction and property management services to outside owners and developers. For additional information, visit www.nrpgroup.com.

Media Contact: Lianna Ybarra,  [email protected], 210-254-9160. 

SOURCE The NRP Group

Related Links

http://www.nrpgroup.com

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