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Kim Gatley
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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.

The original plan for Preserve at Medina River called for 65 acres of commercial property, and Rajunov said the new plan will be similar. CST Brands plans to break ground on a gas station on the development in July, he said, and he is in “very early talks” with a local developer to build a strip mall but declined to provide a name

A limited partnership named PDC Preserve at Medina River bought 434 acres of the development on May 27 from two companies controlled by Rajunov, according to county property records. The property is at the southwest corner of Watson Road and Texas 16, next to Medina River Natural Area and about a mile and a half west of Toyota’s local plant. The first phase of homes is set to begin construction around the beginning of next year and to be finished by fourth quarter 2017, Rajunov said.

Click here to read the full article: Developers plan to revive master-planned community on South Side MySA 6-8-2016

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