Earlier this month, the Bexar County Commissioners Court agreed to begin negotiations with Broadway SA Investors GP, LLC, a company affiliated with Pearl Build, on a 10-year tax abatement for a 263-unit apartment project.
The Pearl is poised to undergo its greatest expansion in years after the city’s Historic and Design Review Commission approved three projects at its Wednesday meeting.
Silver Ventures, the developer behind the Pearl, is planning to restore the former Samuels Glass Co. building, 221 Newell Ave., into a market that will include four restaurants and a bar.
The project by Sabot Development will consist of 299 market-rate units, 12,000 square feet of retail and 429 parking spaces.
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.
A New England investment firm has purchased the Hotel Contessa luxury River Walk hotel from former owners Silver Ventures and Hixon Properties.
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.