Tundra Village, a neglected south side townhouse project, will be renovated into a Class-A community, sources confirmed with Bisnow.

Dallas-based TVPA Partners has purchased the majority of the parcels. The company is working with Jones and Carter Engineering to complete renovation and cure the property's floodplain issues, with Bexar County approval.

Tundra Village has been a source of drama. Most notably, the original developer, Mauro Padilla, went to federal prison for lying to First National Bank while seeking a construction loan. The deal fell through, and the 37 fourplexes (8k SF apiece) were left abandoned without roads, electricity, water or sewer lines.

According to sources, the renovation will use the existing structures, though some will have to be razed. The others will undergo a complete remodel into a Class-A community.

This is a developing story.