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

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Councilman expects big return from urban reinvestment

crocket ventures renduring

Crockett Urban Ventures plans for redevelopment on the river walk.

The San Antonio City Council’s decision to offer Crockett Urban Ventures up to $7.4 million in incentives for the redevelopment of two downtown buildings is expected to fetch San Antonio more than $105 million in economic impact.

Crockett Urban Ventures plans to transform a pair of River Walk sites — the Fish Market and Witte buildings — into a mixed-used development that will include a nearly 200-room hotel, residential units and retail space. The firm also plans to make improvements to the infrastructure around the under-utilized real estate.

City Councilman Roberto Treviño, whose district includes the downtown area, said the municipal incentive package is a wise investment because what San Antonio gets in return is the transformation of a key downtown area in need of new life.

Crockett Urban Ventures partner and property developer Chris Hill has been involved in multiple marquee projects over the years, including Esquire Tavern and the San Antonio Loan and Trust Building. Hill said his plans for the Fish Market and Witte buildings are to clean up two long-neglected historic structures. Renovations to the buildings should be completed by 2019.

Click here to read the full article: Councilman expects big return from urban reinvestment San Antonio Business Journal (7-14-2016)

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