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.
GrayStreet’s Broadway East urban community derailed. W Hotel on hold. The Light building rehab lags behind schedule. That’s just GrayStreet’s projects on Broadway. The Covid pandemic has stymied many of the local developer’s downtown projects.
Next up for the Hixon-Cavender partnership is a food-and-beverage market behind the recently-completed Soto office building on Broadway.
The project would be the fourth major multifamily development by Silver Ventures, and would push the Pearl’s apartment total past 900 units.
The 20-story hotel and office tower GrayStreet Partners is planning at 1603 Broadway will cost an estimated $97 million to build, and construction could start Feb. 1.
Bill Shown, managing director of Pearl developer Silver Ventures, said his group is “very interested” in building affordable housing as the development expands in the coming years.