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.
The 338-unit Encore SoFlo, one of the recent apartment buildings to breathe life into the area north of the H-E-B SoFlo Market, has been purchased by Texas firm Strategic Property Investment.
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.
The 386-unit, market-rate apartments by Dallas developer Encore Multifamily is the first phase of the Broadway East master-planning community across from the Pearl.
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.
If you think you don’t care about San Antonio’s Center City Housing Incentives Policy, also known as CCHIP, you’re probably fooling yourself.