(SAN ANTONIO) – Brooks has secured the state’s first Opportunity Zone investment, the 1,308-acre mixed-use campus announced today. DPR Investments purchased 9.4 acres of land on the eastern portion of the Brooks campus along City Base Landing, which will be utilized for the development of a state-of-the-art climate controlled self-storage facility, as well as flex space for small businesses.
“Texas is leading the way with one of the first secured Opportunity Zone investments in the country,” said Governor Greg Abbott. “The Opportunity Zone program highlights areas of Texas, like Brooks, that are prime for business investment and I’m thrilled to see that come to fruition.”
Owned and operated by San Antonio businessman Jimmy Day, DPR Investments has a history of commercial real estate investment throughout San Antonio, most recently creating the city’s newest food truck park, StreetFare SA, on Austin Highway .
“We’re thrilled to lead the way for San Antonio and the state of Texas to capitalize on this great community development program,” said Leo Gomez, Brooks President & CEO. “Our Opportunity Zone designation gives us yet another incentive as we continue to attract quality investors, like DPR Investments, to the south side.”
DPR Investments estimates a total project cost of $16M with ground breaking anticipated in fall 2019. DPR Investments commissioned five independent studies to determine how the land would be best utilized, with the demand for climate-controlled self-storage evident in each study.
“The opportunities that exist at Brooks are unbelievable, there is great potential for what we can do and the Opportunity Zone designation provides a real incentive to invest” said Day. “We’re excited to develop space unlike what currently exists on campus, including flex space that caters to local small business owners.”
Brooks is one of 24 Opportunity Zones in Bexar County, as designated by Texas Governor Greg Abbott in March 2018. Established by Congress in the Tax Cuts and Job Act of 2017, Opportunity Zones are designed to encourage long-term investment in low-income communities. The Opportunity Zones program establishes tax incentives to encourage private individuals to invest unrealized capital gains in projects located within high poverty communities.
Brooks is a growing mixed-use community of more than 1,300 acres where people can live, work, learn, play and stay. Since its inception, the community has attracted nearly 40 businesses that employ more than 3,000 people including Mission Solar, Mission Trail Baptist Hospital, DPT Laboratories, The University of the Incarnate Word School of Osteopathic Medicine, VMC Call Center, Bridge PTS, the City/County Emergency Operations Center, Brooks Academy of Science and Engineering Charter School, Compass Rose Academy, several market-rate apartment communities, and a variety of restaurants and retail stores. For more information, visit LiveBrooks.com.
About DPR Investments
DPR Investments, Ltd., is a San Antonio based business management company. DPR Investments manages several diversified companies within the U.S., including JDByrider franchises throughout South Texas. DPR Investments is currently looking to further its growth strategy through the acquisition of one or more heavy tangible depreciable asset companies, including trucking, heavy equipment and manufacturing.
Connie Gonzalez 210-878-9336