District 2 Councilman Jalen McKee-Rodriguez wants a displacement study completed when developers seek incentives from the city.
Inner City TIRZ
The $596 million Lone Star Brewery project, which local developer GrayStreet Partners and Houston mega-developer Midway unveiled last year to great excitement, now faces an uncertain future.
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.
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 $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.
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.