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.
Lone Star District
The Midtown TIRZ board tabled $4.8 million in incentives for Broadway’s next apartment building because it needed more details on an even larger project it’s being asked to help fund: the burying of overhead power lines on Broadway from Interstate 35 to East Mulberry Avenue.
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.
Any concerns about the sheer size of the Lone Star’s $24 million incentive deal, or over the potential displacement of nearby residents, were outweighed by the fact that someone is finally breathing new life into these ghostly industrial shells after 25 years.
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.