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Kim_Gatley
Kim Gatley
S
enior Vice President & Director of Research at REOC San Antonio

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Developer to ‘Redefine Suburb’ with Major Mixed-Use Project Near UTSA

Development plan for 114 acre UTSA Blvd site.

Development plan for 114 acre UTSA Blvd site.

The plan amendment approved on Wednesday will turn the acreage from “suburban tier” to  “urban core tier,” allowing for up to 995 multifamily housing units, 320,000 sq. ft. of Class A office space, and 120,000 sq. ft. of retail to be developed. Plans also include about 24 acres of open space. Exact amounts and final plans are yet to be determined, developer representatives told commissioners on Wednesday. …Read Entire Post

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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

Retail vacancy tumbles as population growth drives service-tenant expansions

Population growth triggering expansion of need based retail sites.

Population growth triggering expansion of need based retail sites.

Population growth, increased residential construction and strengthening employment counts have triggered expansions among necessities-based retailers across the city, prompting drops in vacancy and steady hikes for rental rates. Companies such as Wal-Mart, H-E-B, CVS and Security Service Federal Credit Union are ramping up new location development alongside a multitude of restaurant, dry cleaning, healthcare, beauty and convenience stores. …Read Entire Post

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

Looking for affordable new homes in San Antonio

redhouseoutlineHousing starts in 2014 totaled roughly 9,300, according to Metrostudy.  The forecast for 2015 is for a repeat of last year.  If that holds true, it would be the second year above the 9,000-mark since the area recorded nearly 13,000 starts in 2007. …Read Entire Post

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

Walmart to anchor Bulverde development

Work has commenced on a 250-acre mixed-use development in Bulverde that will bring more retail and housing options to the Hill Country town.

Located at U.S. 281 North and Texas 46, Singing Hills will incorporate about 70 acres of commercial space, roughly 160 apartment units and 350 single-family homes.

As an anchor tenant, Walmart is expected to open a 180,000-square-foot store at the site. Construction is slated to begin in August, and the store could be open by …Read Entire Post

San Antonio new home starts on track for 9,000

While home building slowed a bit during the third quarter, builders still are on pace to start more than 9,000 homes this year.

During the third quarter, there were 2,304 single-family home starts in the San Antonio area, according to data from market research firm MetroStudy.  That’s up from 2,243 starts recorded last year, a nearly 3 percent increase. …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