FORT LAUDERDALE, FL - The Lynd Group has started construction on a 360-unit mixed-income apartment development in San Antonio’s emerging Far West Side. The company has partnered with Santikos Enterprises and the San Antonio Housing Authority (SAHA) to develop Potranco Commons located at Potranco Road and Loop 1604.
On Wednesday, May 25, about 40 guests attended a morning groundbreaking ceremony and got a chance to hear the partners’ vision for the property.
“Lynd is honored to partner with two very esteemed organizations such as Santikos and the San Antonio Housing Authority on this amazing project,” said A. David Lynd, The Lynd Group CEO. “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 Antonian’s of all income levels have the opportunity to enjoy this quality of housing.”
Rents will range from $810 to $1,547 per month with approximately 40% of the units available for people who earn 80% or less of the Area Median Income (AMI). Potranco Commons features one-to-three-bedroom units that range in size from 533 to 1,345 square feet.
Residents will have access to several amenities which are typically not found in a mixed-income development. They include a clubhouse, pool and cabanas, fitness center, professional barbecue grill stations, and a DJ booth. There will also be plenty of open green for residents to enjoy.
Potranco Commons has been in the making for the past two years. Santikos Enterprises owns the site and Lynd will be responsible for building, leasing and managing the property once it opens sometime in the second quarter of 2024.
“We selected Lynd for this project because of their best-in-class reputation as a developer and this project will be great for the San Antonio community in many ways,” said Tim Handren, CEO of Santikos. “John Santikos 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.”
About The Lynd Group: The Lynd Group is a fully vertically integrated real estate organization based in San Antonio, TX with a long-standing history in the acquisition, development, and management of residential and commercial real estate. Operating approximately 20,000 apartment units in 13 states, Lynd ranks as one of the premiere multifamily management companies in the country. For more information, visit www.lynd.com
About Santikos Enterprises: Founded in 1911, Santikos Enterprises is an entertainment and real estate social enterprise overseen by the San Antonio Area Foundation as part of a charitable fund under management. Proceeds from Santikos Enterprises fund the John L. Santikos Charitable Foundation, a fund of the San Antonio Area Foundation, providing grants to qualified nonprofits in eight Texas counties. John L. Santikos, an entrepreneur and real estate developer, best known for his movie theater chain, gifted his business and estate to the community, becoming the first theater company in the country to operate as a social enterprise. Santikos Real Estate consists of retail, office, multi-family, industrial, theater, land, and hotel assets in the San Antonio and national markets. Focused on outstanding service to its tenants and growth, Santikos Real Estate is committed to maximizing the value of its real estate holdings.