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

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San Antonio new home construction could top 2006 record

The pace of home construction in the San Antonio area is on track to break records, according to Jack Inselmann, regional director in San Antonio at Zonda, a housing-market research firm.

Builders started work on 5,132 homes in the second quarter which trails the peak of 5,437 homes begun in the second quarter of 2006, just before the national housing market collapsed.

Builders started construction on 9,666 homes during the first six months of 2021, up from 7,166 last year.  The annual rate of housing starts reached 18,911 at the end of the second quarter, trailing San Antonio’s all-time high of 19,818 homes at the end of the third quarter of 2006. That’s up 33.6 percent from a year ago, the highest year-over-year percentage change among the top 15 U.S. housing markets.

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Weingarten Sells Fiesta Trails Movie Theater Site to Koontz for Multifamily Development

Fiesta Trails Apartments

Houston-based Weingarten Realty recently sold the former Regal Fiesta 16 movie theater property to San Antonio-based Koontz Corporation.  Koontz plans to break ground in early 2022 on a new 300-unit class A multifamily apartment community.

The recently rezoned 10.36-acre site, located at 12631 Vance Jackson Road, backs up to the Fiesta Trails Shopping Center, anchored by local grocer H-E-B, Bob Mills Furniture, La-Z-Boy, Marshall’s, Party City, Petco and other retailers and restaurants.

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Local market update from Broadway Bank

The headwinds caused by COVID-19 and the related shutdowns of various segments of the national economy has impacted the local real estate market, including skyrocketing lumber prices and other related construction costs, manufacturing delays, a slowdown in municipal approvals, changing consumer habits, record homebuilding starts and closings as well as shifting construction priorities by developers.

Supply challenges continue to escalate; however, builders are adapting by placing orders early in advance and being flexible with substitution products.  Not as easy to adapt to is the rising cost of lumber.  For example, the spot market for random length lumber ($/1,000 board feet) increased from $354 in June 2020 to $975 in February 2021. …Read Entire Post

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A Rudderless Ship: A Hope for Affordable Housing

In hopes to create more affordable housing, the San Antonio Housing Trust offered $30 million in tax breaks without realizing rents are too high for majority of low-income residents.

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Power Center opening in Far West Side

80-acre development will feature 550,000 square feet of retail, including a long strip center and 14 pad sites

The Shops at Dove Creek is opening in a few months as the next power center on San Antonio’s Far West Side. This area has seen continued demand for big-box retail.

 

Portions of the land have been sold to users like KB Homes, Casey Development, and Flix Brewhouse LLC. Plans include a 170-unit subdivision behind the retail part of the development and an apartment complex.

 

The remaining 80 acres will include 

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$15 Million Gift and Downtown Land for UTSA

The University of Texas at San Antonio

The University of Texas at San Antonio has received a $15 Million gift to support their proposed School of Data Science. One of UTSA’s major component is to accelerate the development of its Downtown Campus as a destination for producing professionals in big data and analytics, advancing economic development in the urban core, and creating prosperity for San Antonio.

UTSA is also in discussions with the City of San Antonio and Bexar County for …Read Entire Post

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San Antonio housing market breaks record in 2017

San Antonio’s growing economy propelled the local housing market to another record sales year in 2017, but the supply of homes on the market remains extremely tight.

Home sales in the San Antonio-New Braunfels metro area increased by 3.8 percent in 2017 to a record 30,715, up from 29,596 in 2016, according to data recently released by the San Antonio Board of Realtors.  …Read Entire Post

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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

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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

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