18 Apr Mission Invests in the Southside
The Southside of San Antonio is growing rapidly and presents many opportunities for real estate development and rehabilitation of existing structures, but also for broad economic development of the community, including small business.
Mission is invested in the economic development on the Southside through their housing projects such as the Villa Espada Apartments. This development is situated within the Mission Del Lago a master planned community on San Antonio’s South Side overlooking the Mission Del Lago Golf Course, as well as the Mitchell Lake bird sanctuary.
“I am excited to be building income-based rental housing within the VITA Master Plan Community at the entrance to Texas A&M San Antonio. Our Aspire at Vita will be completed in late 2021 and will have 288 Units all a 60% area medium income or below as dictated by the Texas Department of Housing Community Affairs, wonderful housing for students.” – Mark Tolley
To stay engaged with the Southside community, Mark Tolley, Partner at Mission has been serving on the board of Southside First, a non-profit uniquely positioned to help usher in this new wave of economic development on the south side of San Antonio.
I’ve been privileged to work with Southside First on the implementation of their opportunity zone program, to help small business and investors capitalize on this important tax advantage,” says Mr. Tolley.
Southside First is the recognized advocate of business on the south side of San Antonio; they gather and maintain data on the business climate, provide resources and support, encourage new business development, and foster growth in a strategic and coordinated way.
Mission believes in the promise of creating an economically strong Southside, and their work with The Southside First Economic Development Council helps to usher in economic prosperity with
A unique skill that Mr. Tolley brings to the table is his ability to navigate large Federal programs such as the Opportunity Zones. Opportunity Zones are geographical areas where there is a federal tax incentive to foster economic inclusive growth. This program encourages long-term investment of unrealized capital gains in exchange for deferment and reduction of capital gains taxes, a real incentive to help revitalize and develop areas such as the south side of San Antonio.
Mission is excited to continue it’s legacy of affordable quality housing on the Southside of SA. Through the expertise of Mark Tolley at Mission, Southside First is able to benefit from the Opportunity Zones Program to inform local investors and biz owners how to utilize the opportunity zone on the southside.