San Antonio is one of the nation’s fastest-growing cities, and its rising housing starts and new construction focused on affordability continue to bring attention to the Alamo City. The city’s climbing housing starts, an important indicator of economic strength, is “buoyed by job growth, low interest rates and a bigger supply of lots ripe for development,” said the San Antonio Express-News. “And they’re expected to keep climbing in 2020.”
Over the years, San Antonio has maintained its affordability despite its growth; It has been one of the fastest-growing cities in the nation for two years in a row, adding 20,824 people last year, according to census numbers, and boasts a median housing cost and cost of living that are both lower than the average nationwide. While new construction across the country is largely concentrated on luxury, “builders and developers are focused on adding homes costing under $250,000 — welcome news to prospective buyers struggling to find an entry-level or mid-market house,” they said.
Regional director at Metrostudy, Jack Inselmann, said at the recent Greater San Antonio Builders Association’s annual housing forecast, that, “Builders could begin work on upwards of 15,000 single-family homes this year, up from 13,740 last year and 11,680 in 2018.” Much of that development is clustered on the city’s far West Side, Northeast Side, and the I-35 corridor.
But it’s what’s happening on the SouthSide that everyone is talking about. It’s here that nationally recognized masterplanned development company, SouthStar Communities, recently announced VIDA, a groundbreaking new development just adjacent to Texas A&M University-San Antonio (TAMU-SA).
This exciting new 600-acre master planned community will address the exploding enrollment growth at TAMU-SA and the “growing housing needs associated with the recently announced expansions to the Toyota Motor Manufacturing Texas facility, TJ Maxx distribution center and the newly announced Navistar Commercial Truck Manufacturing Facility,” said the San Antonio Business Journal, with a wide range of new residences including affordable single-family homes and townhomes, plus apartments. The development will also include retail and an expansive trail system that connects the community to the Texas A&M University-San Antonio campus, shops, restaurants, entertainment venues, and healthcare services.
More than 5,700 residential units will be included at VIDA, with construction scheduled to begin 2nd Quarter of 2020 and Phase 1 homes and retail anticipated to be completed in 2021.
About SouthStar Communities
VIDA is SouthStar’s sixth active development in Texas. The company invests, develops properties, and provides services including acquisition, entitlements, planning and development, project management, design oversight, marketing, branding strategy, and asset management. The company has developed some of the most successful and renowned communities in the country from Texas to Florida.
SouthStar Communities is also dedicated to supporting the military. The company has partnered with non-profit Operation FINALLY HOME to provide free lots and homes for wounded and disabled veterans. To date, 11 properties have been built for American heroes in SouthStar neighborhoods across Texas.
For more information on VIDA, visit livevida.com.