New Hemisfair renderings show a 29-story, 360-unit apartment tower with a 7-level parking garage and 25,000 square feet of retail space on East Market Street. The plans are up for review this week.
District 2 Councilman Jalen McKee-Rodriguez wants a displacement study completed when developers seek incentives from the city.
How San Antonio’s discussion on housing costs has evolved from the Decade of Downtown to the pandemic-era shortage.
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.
In 2015, GrayStreet Partners announced it had purchased several iconic buildings on East Houston Street, and spoke of the corridor’s rebirth. Nearly seven years later, the local developer has been selling off its assets as it shifts focus, and capital, to other projects.
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 project by Sabot Development will consist of 299 market-rate units, 12,000 square feet of retail and 429 parking spaces.
In the area of housing, it seems likely that the early 2020s will mark another turning point for San Antonio.
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.