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XSTEP Opportunity Partners is moving forward with plans for a 500-acre manufactured housing project on San Antonio's South Side. The Homestead, a 1,500-unit development near Loop 1604 and Interstate 37, will be the company's latest addition to its growing portfolio in Central Texas. This includes the 3,500-home Hickory Ridge subdivision in Elmendorf, as well as projects in Schertz, Eagle Pass, and Austin.

    The developer has positioned itself to capitalize on Texas' rapid population growth and development boom. NXSTEP Opportunity Partners raised over $100 million for its first fund in 2023, exceeding its fundraising goal. The company sees strong investment potential in San Antonio's development landscape, despite the current macroeconomic environment.

    San Antonio is experiencing a significant construction boom, with Miami-based homebuilder Lennar leading the charge. The city is also seeing a wave of adaptive-reuse projects, including the conversion of historic buildings into residential spaces. Other notable projects filed during the Jan. 22 city planning commission include multiple subdivisions and mixed-use developments, totaling 1,542 residential lots.

    The Homestead will be one of several major residential projects in San Antonio, joining Lennar's Elm Trails tiny-home project on the East Side and other adaptive-reuse initiatives. The city's residential market is expected to continue growing, driven by a strong demand for housing and a favorable business environment.