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CRANE WATCH
Commercial Real Estate
Enter the Floodgate: Luxury 17-story apartment tower underway downtown

By Mitchell Parton – Reporter, San Antonio Business Journal
Mar 27, 2020, 12:49pm CDT
One of downtown San Antonio’s most-anticipated developments is now in progress.

The Floodgate, being developed by local interior designer and real estate developer Keller Henderson, is set to be a 17-story, mixed-use luxury apartment and retail tower at 139 East Commerce Street along the River Walk. The apartments, likely to have some of the highest rents in the city, will range in size from 850 to 1,500 square feet.

The octagon-shaped development between the Witte Building and the Esquire Tavern broke ground in mid-February. The first phase of demolition — the removal of two existing buildings — is complete, Henderson told the Business Journal. After the retention systems and crane are set, crews will begin pouring concrete. Completion is estimated for November 2021.

The tower is set to have the city’s first automated parking system on its second and third levels with 56 spaces. Residents will drive into the garage and leave their car to be parked by an automated machine that will raise the car into a space using a puzzle-like system and a turntable. When a vehicle's owner needs it, the touch of a button will trigger the system to automatically retrieve the car.

Henderson said his team has made sure the parking system will be able to handle “Texas-sized” SUVs such as Suburbans and Escalades. It will also have six automated electric charging stations with the capacity to add 20 more.

Local firm Jordan Foster Construction is working on the project along with Austin-based Rhode Partners Architects. Falcon International Bank is Henderson’s lending partner and local firm Hilmy designed a branding package for the project.

Henderson said the momentum of downtown development will keep moving through the COVID-19 pandemic, and that the unprecedented situation will create a stronger appeal for buildings with “smart” features such as automated parking that may previously have been seen as simply a novelty or convenience.

“The urban lifestyle is very interconnected and interdependent one,” Henderson said. “Going forward, services and technologies once considered a luxury will become the new modus operandi, and the Floodgate right in stride with this evolution.”


By Mitchell Parton – Reporter, San Antonio Business Journal
Mar 27, 2020, 12:49pm CDT