REOC San Antonio
Commercial Real Estate Since 1974   
Kim_Gatley
Kim Gatley
S
enior Vice President & Director of Research at REOC San Antonio

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Developers plan to revive master-planned community on South Side

Preserve_MedinaRiver_Community_Plan

New developers take over The Preserve at Medina River.

Two local developers plan to revive The Preserve at Medina River, a 530-acre master-planned community in the South Side of San Antonio that has languished since it was announced almost a decade ago. A new team of developers has taken control of the project, which never broke ground.

They expect to build 1,200 homes on the development over the next eight years or so, said Fermin Rajunov, who was one of the project’s original investors and is involved in a partnership that bought most of its land last month. …Read Entire Post

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Pearl-like Development Planned for Eastside

Eastside developmentCity Council approved zoning changes that will allow local developer Efraim Varga and investment partners to construct a multi-block, mixed-use complex in the Eastside’s Denver Heights. A $43.5 million improvements package was approved in January 2015 that is slated to improve connectivity to the Henry B. Gonzalez Convention Center expansion and Hemisfair Park.

The neighborhood, plagued with crime and vagrancy, stands to undergo a revitalization similar to that which the Pearl brought to the crumbling brewery complex just north of downtown. …Read Entire Post

Colliers on the Hunt for $47M on Behalf of Texas Multifamily Developer

Proposed Villita Tower in downtown San Antonio

Proposed Villita Tower in downtown San Antonio

JMJ Development is sourcing $47 million in debt and equity for the construction of Villita Tower at 120 Villita St.

The 30-story, 201-unit, market-rate multifamily residential development is soon planned for this supply-constrained metro. Villita Tower capitalizes on the tight rental market of San Antonio.

Additionally, there will be 12,000 sf of commercial space, which will house three restaurants and a coffee shop.  …Read Entire Post

Singing Hills wins 2 Best in Commercial Real Estate Awards

Singing Hills

Singing Hills

Eleven development projects and transactions have been chosen as winners in 12 categories of the San Antonio Business Journal’s Best in Commercial Real Estate Awards.

For the developments and deals portion of the awards, a panel of judges considered nominations received and chose these winners in the following categories: …Read Entire Post

REOC facilitates sale of 780 acres north of San Antonio

4S Ranch Bulverde

4S Ranch Bulverde

Lennar Homes recently purchased 780 acres of land commonly known as 4S Ranch, located between Smithson Valley Rd., FM 1863 & Stahl Lane in the extra-territorial jurisdiction of Bulverde – a satellite community situated just north of San Antonio.  The seller, a group of local investors known as Stahl Lane, Ltd. and 633-4S Ranch Ltd., was represented by Kurt VanderMeulen and Joyce Jane Weedman of REOC Austin.  “The site, which is located next to Lennar’s Johnson Ranch master-planned community, is Master Planned for 1,800 single-family homes,” says VanderMeulen.

Click to read Lennar purchases 780-acre 4S Ranch in Bulverde, TX (PRWeb, 3-04-15)

San Antonio home prices hit record high in June

The median price for an existing single-family home hit a record high of $188,200 in June, up 5 percent compared to the same month last year, according to the San Antonio Board of Realtors (SABOR).

Activity also picked up. June sales totaled 2,474 – up 6 percent compared to June 2013 and a reversal of the decline posted last month.

The San Antonio market has recorded a total of 11,655 homes …Read Entire Post

Housing boom bigger in Texas

Texas, known for its open spaces and cheap property, is experiencing the types of real estate bidding frenzies seen in tightly built markets from New York to San Francisco as job gains generate a suburban land rush. Existing-home prices in Dallas and Houston are rising faster than at any time since the oil boom of the 1980s. Homebuilders, caught off guard by the ferocity of buyer demand, are exhausting construction-ready lots as they struggle to recruit workers to complete houses quickly.

The boom shows that the U.S. real estate market’s rebound is extending beyond areas such as Arizona, Florida, California and Nevada, where prices are …Read Entire Post

San Antonio No. 4 in Realtor.com top rental markets

San Antonio’s affordable lifestyle and impressive growth make it hot market for not only homebuyers, but renters too, according to Realtor.com’s list of Top 10 Rental Markets.

The Alamo City took the No. 4 spot on the list.  The median rental rate for San Antonio-area homes, apartments or condos currently stands at $1,100.

Also making Realtor.com’s rent-friendly list were the Texas cities of Austin, ranked at No. 2; and Houston, which came in at No. 10.

Click to read entire article: San Antonio No. 4 in Realtor.com top rental markets (San Antonio Business Journal, 6-5-13) and Realtor.com’s Top 10 U.S. Rental Markets (Realtor.com, 6-5-13)

Birdsong Peanut Plant slated to become apartments

Former Birdsong Peanut Plant

Locally-based 210 Developers plans to refurbish the former Birdsong peanut processing plant located at 1025 S. Frio St. into an apartment building.  The existing 19,000 square-foot structure was built in the early 1900’s and is located five blocks south of the UTSA Downtown Campus.  The project, to be known as the Birdsong Peanut Factory Lofts, will deliver 98 new units — half of which could be student housing.

Click to read article: Peanut plant near campus to become lofts (San Antonio Express-News, 12-11-12)

Texas is a well-oiled real estate machine

A recent CNBC article referred to Texas as a “well-oiled real estate machine” based on the evidence that residential real estate is reaping the benefits of an economy supported by energy production which has created jobs and bolstered demand.  The article cited Jim Gaines, research economist at the Real Estate Center at Texas A&M University, who said, “The middle of the country, the spine, has done much better than the two coasts.  A common thread is energy, from Texas to the Dakotas — there has been a real boom time due to the exploration and drilling activity.”

Click to read the full article: Texas is a well-oiled real estate machine (CNBC, 3-30-12)