Houston developer Urban Genesis says it’s on schedule to start construction on its holdings on and off North St. Mary’s Street—overall, a $45 million series of developments for a total of 178 market-rate apartments—by first quarter 2023.
Midtown & Pearl
The Pearl’s development company is moving forward with plans to build a 9-story mixed-use structure, which would include 250-275 market-rate apartments, on a full city block bound by East Josephine, Isleta, East Grayson and the river.
Developer Jake Harris is planning to build a 1,000-apartment project West Josephine that would also touch the St. Mary’s Strip. If built, it would add the flurry of new housing developments either under construction or in the planning stage for Tobin Hill.
Earlier this month, the Bexar County Commissioners Court agreed to begin negotiations with Broadway SA Investors GP, LLC, a company affiliated with Pearl Build, on a 10-year tax abatement for a 263-unit apartment project.
Hops & Hounds, a restaurant and dog park on the Northeast Side, plans to open a second location on the River Walk in north downtown next to Elsewhere Garden Bar & Kitchen.
Since hiring an international real estate brokerage firm in 2018, CPS Energy has struggled to sell its former Jones Avenue Service Center at 326 W. Jones Ave.
Houston multifamily developer Urban Genesis is tightening its hold on North St. Mary’s Street with the purchase of a 0.6-acre vacant lot, down the street from the San Antonio Museum of Art, where it plans to build apartments.
A financial tool used to help fund affordable housing was recently repurposed for the San Antonio Zoo, the Witte Museum, Garden and Brackenridge Park, a move that has some nonprofit developers scratching their heads.
The downtown San Antonio apartment market, which city leaders went to such great effort to grow, has matured to a point where it is drawing major attention from out-of-town investors.
Let’s make one thing clear, the Decade of Downtown in San Antonio is alive and well. It hasn’t expired. And it will continue as long as there are city policies designed to incentivize the production of market-rate housing in the downtown area.