The $24 million incentive package that GrayStreet Partners and Midway received last month to redevelop the former Lone Star Brewery tops the list of San Antonio’s most subsidized urban development projects.
Developer James Lifshutz has purchased a 4.6-acre property directly south of Roosevelt Park and across the river from the soon-to-be redeveloped Lone Star Brewery.
Local developer David Adelman and a partner have purchased a four-acre warehouse property directly north of the Lone Star Brewery with plans to build on the momentum of the area’s growth by developing it with a residential use.
Any concerns about the sheer size of the Lone Star’s $24 million incentive deal, or over the potential displacement of nearby residents, were outweighed by the fact that someone is finally breathing new life into these ghostly industrial shells after 25 years.
On Thursday, City Council unanimously approved $24 million in incentives to help a partnership between GrayStreet Partners and Midway succeed where so many others have failed: to redevelop the blighted Lone Star Brewery complex.
The developers of the Lone Star Brewery are seeking $24 million in subsidies from the City of San Antonio to cover the cost of infrastructure and other public upgrades in and around the long-abandoned site.
A large mixed-use development in the Lone Star neighborhood received a key incentive on Monday from Bexar County commissioners—a 10-year, 40-percent tax abatement on county property taxes worth an estimated $648,075.
The development of a 294-unit apartment complex in the Lone Star neighborhood — one that would face both South Flores and East Cevallos streets — received a boost last week, when the City Council approved a Bexar County 10-year tax break worth a maximum of $648,070. Under state law, the Council must approve county incentives if the […]