San Antonio, Texas is one of America's fastest growing metropolises, estimated to reach another 1 million in population by 2040. Such expedited growth in the last 10 years has inspired the city of San Antonio to execute a series of long-term visions, meeting the needs of those wishing to thrive in an efficiently planned Texas city. Prevalent job security and sturdy local economies have encouraged millennials to invest and start their families in the charming city of San Antonio. Consequently, there are nearly 30 new developments in San Antonio, bringing forward its understated potential, where neighboring cities will contend with.
Let's take a look at some remarkable new developments in San Antonio.
Essex Modern City: 8 Acres of Opportunity
After decades of neighborhood upheaval, Denver Heights has long anticipated a well-deserved comeback for the community. Once known for its mom-and-pop shops, prideful homes, and bright gardens, the nearby Alamodome didn't bring the boost residents and business owners had hoped for.
Fast forward to 2015, where local developer Efraim Varga formed plans to start building a $150 million mixed-use development for the Denver heights area.
Over the course of 3 years, Essex Modern City will be built upon what used to be an 80,000 sq. ft. pallet manufacturing facility, transformed into office space, 65,000 sq. ft. of retail space, 248 apartments, 160 condominiums, 80 townhouses, and a mess hall. Unique features will include murals painted by local artists, vertical veggie farms for restaurant use, and the rejuvenation of a classic 1930s building. Local businesses are first in line for retail space and creative offices, as developers want to focus on the efforts of the community. Essex Modern City will certainly ignite the San Antonio real estate market for years to come.
Frost Tower: Global Expectations
The west side of San Antonio has set in place a cutting-edge, $143 million office tower, aesthetically transforming the area—all thanks to Weston Urban CEO Randy Smith. The 23-story tower will serve as Frost Bank's headquarters as well as hold office space for the ever-growing Texas tech landscape. Frost Tower is the first to go up since 1989 and will take just over two years to complete. Community leaders of the Frost Tower development believe this will be a game changer for the city, on a global macro scale, by remaining competitive in the technology industry, and boosting the overall value of real estate in San Antonio.
Interested in learning more about one of these promising San Antonio developments? Contact JBGoodwin REALTORS® today to learn more!
A Fresh Face on the Alamodome
In the heart of San Antonio, the Alamodome's current $50 million upgrade will meet the demands of the growing city, by way of improving capacity for community happenings and hosting highly sought-after sporting events. Some pinpointed improvements of the stadium include:
- Additional space for both inside and outside Northern Plaza
- New visiting team locker room
- Added space both east and west
- Larger concession area
- 2 LED video walls
- Ribbon boards
- An extra 24,000 sq. ft. of multi-use space
- Outdoor terrace level
The renovations will allow San Antonio to compete with other multi-use sport facilities in America by hosting high profile events. This will be fully implemented as of November 2017. New developments in San Antonio like this will give chance to exciting revitalization and economic development of the eastside of town.
Lone Star Brewery Buzz
Nearly 20 years of abandonment and a $300 million rehabilitation vision later, Lone Star Brewery has hopes of being brought back to life in big Texas fashion. This impressive undertaking will impact the Southtown area, boasting nearly 380,000 sq. ft. of retail and office space, multifamily residential options, a park, and a 10 screen movie theater. Last November, developers were given approval for the zoning of the mixed-use redevelopment of the brewery and should have conceptual approval into the year. Stay thirsty to hear more about this San Antonio real estate endeavor!
Check out our blog on the new Lone Star Brewery development to learn more!
Canopy by Hilton: New Boutique Hotel for The City
By fall 2018, San Antonio will showcase one of its first boutique hotels, inspired by the city's rich history and the progressive influences of the many millennials who call San Antonio home. Canopy by Hilton is one of the latest on-trend hospitality experiences, highlighting the culture of the hotel's natural setting. Canopy's ethos captivates those wanting to delve into an authentic San Antonio experience, as guests can look forward to Canopy's local know-how, with uniquely curated menus and services.
Canopy by Hilton will be situated alongside the magical River Walk at the northwest corner of North Saint Mary's and Commerce Street. The 22-story design will include 195 rooms, 3,000 sq. ft of meeting space and a stunning restaurant with an outdoor terrace, just above the river walk. Developers of this exciting project wanted to stay true to the scene by incorporating the original Civil War era Alamo Fish Market building. This fresh expansion speaks volumes of the entrepreneurial ventures taking place in the city as of late, as San Antonio is harnessing several projects where thinking outside of the box is welcomed.
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