SAN ANTONIO — The district that oversees a community college campus in this bustling Texas city is getting ready to sell its housing complex there because it has not met expectations. The 225-unit Tobin Lofts apartment complex along North Main Avenue was meant to draw students by offering them a shorter commute and a stronger connection with the university, and also provide a source of income for the Alamo Colleges District. But it has not done so, according to the district’s budget documents for the current year.
The Alamo Colleges District partnered with a private developer, NRP Group, in 2012 to build the complex. The district owns the land and created a public facility corporation, Tobin Lofts LLC, to operate the apartments, which are managed by NRP Group. The company, which has been in the business for more than two decades, estimated in 2012 that the complex would make about $3.8 million over 12 years. But, according to the budget documents, Tobin Lofts “has not made money.”
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Located in the prestigious Alamo Ranch neighborhood, this apartment community is like an upscale Hill Country resort. Stylish apartment interiors feature open, spacious floorplans, ceiling fans, large closets and cutting-edge smart home technology. Selected units offer garden tubs and attached garages. Residents can enjoy the resort-style pool, grill out in the outdoor kitchen and work out in the 24-hour fitness center. They can even bring their furry friends with them to the dog park, as this community is pet-friendly. In fact, the entire community is designed to help people feel comfortable while they’re on a temporary assignment or relocating for work, allowing them to focus more energy on their work and less on finding a permanent home.