The 330-unit community, strategically located between Austin and San Antonio, will provide affordable housing and accessibility to Central Texans
SAN MARCOS, Texas--(BUSINESS WIRE)--The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, in partnership with the Capital Area Housing Finance Corporation (CAHFC), today announced the opening of Centro35, a 330-unit affordable housing community in San Marcos, Texas. The development provides high-quality, amenity-rich housing to residents earning up to 60 percent of the Area Median Income (AMI).
"San Marcos is at the heart of one of the nation's fastest-growing corridors, and we recognize Central Texas as a critical area for investment," said Max Whipple, Vice President of Development at The NRP Group. "Centro35 reflects our commitment to addressing the area's affordable housing needs while providing residents convenient access to job markets along I-35."
Located at 508 Labrador Boulevard, just off the central I-35 corridor, this development offers convenient access north to Austin and south to San Antonio. Within a ten-mile radius are major employment hubs in San Marcos, including the Amazon Fulfillment Center, Texas State University, and one of the largest Tanger Outlet Malls, providing residents with ample nearby job opportunities.
"Centro35 is a testament to our mission to provide quality affordable housing for working families and young professionals in San Marcos," said Jim Shaw, Executive Director at Capital Area Housing Finance Corporation (CAHFC). "With this project marking our fifth partnership with The NRP Group, we're proud to play a pivotal role in fostering vibrant communities where residents have access to comfortable, affordable homes that meet their needs."
Centro35 will accommodate both working professionals and growing families, with floorplans that include one-to-four-bedroom units. In partnership with the nonprofit Community Housing Resource Partners, Centro35 has a dedicated activity room to host resident services such as health screenings, after-school programming, financial literacy training, a first-time homebuyer program, English as a Second Languages courses and more.
The development will feature best-in-class amenities including a resort-style swimming pool, 24-hour fitness center, and conference center with individual work pods for remote work. Additionally, family-friendly amenity spaces will include a children's activity room and a game room.
"As San Marcos continues to grow, it is essential that we provide affordable housing options for all members of our community, " said Hays County Commissioner Debbie Gonzales Ingalsbe. "Centro35 offers more than just housing—it delivers vital services and amenities like family-friendly gathering spaces, ensuring residents have everything they need right at their fingertips. Developments like this strengthen our community by further fostering a thriving community."
This fully affordable housing community was financed with tax credit equity from Huntington Community Development Corporation and permanent financing provided by Bellwether Enterprises and Deutsche Bank.
The NRP Group has developed more than 30,000 units in Texas. Centro35 is the company's third development in the City of San Marcos, comprising nearly 1,000 units.
About The NRP Group
The NRP Group is a vertically integrated developer, owner, builder, and manager of best-in-class multifamily housing with a mission to create exceptional rental housing communities for individuals and families, regardless of income. Since its founding in 1994, NRP has developed more than 60,000 apartment homes and currently manages over 25,000 residential units.
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 provide 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, mixed-income, and senior housing.
The NRP Group is consistently ranked in the Top 10 largest developers and builders in the U.S. by the National Multifamily Housing Council and by Affordable Housing Finance. The NRP Group is a winner of the National Association of Home Builders Multifamily Pillars of the Industry award for "Builder of the Year," and a four-time recipient of the same award for "Development Firm of the Year." The NRP Group has become the top multifamily developer in the U.S. that creates both affordable and market-rate housing at a national scale. Based on its nearly 30 years of experience and expertise, NRP now provides construction and property management services to outside owners and developers. For additional information, visit .
About the Capital Area Housing Finance Corporation
CAHFC was established in 1981 to address workforce housing needs in Central Texas. Today we assist in meeting the housing needs of workforce families in Bastrop, Blanco, Burnet, Caldwell, Fayette, Hays, Lee, Llano and Williamson Counties, as well as the City of San Marcos. We provide both single family home ownership and multi-family rental opportunities to households meeting certain income requirements. By providing these programs and building local and regional partnerships, CAHFC is turning local dreams of home ownership into reality while contributing to the regional economy and reinvesting in the communities we serve. To date, CAHFC has issued approximately $2 billion in mortgage revenue bonds to foster home ownership opportunities as well as to provide high quality rental homes for working families throughout our nine-county service area.
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