McCombs project @ Jones

[Txdev]

I don't think there has been a post on this yet. Business Journal just posted an article and some renderings that I will try to post.


https://www.bizjournals.com/sananton...es-avenue.html

By James McCandless – Reporter, San Antonio Business Journal
Oct 12, 2023

A downtown property is set to undergo a major transformation that will see apartment, office and hotel uses fronting the River Walk, minutes away from the Pearl.

McCombs Enterprises — in partnership with Denver-based developer McWhinney — is planning a mixed-use district called "Jones Avenue at Museum Reach" on property it acquired earlier this year from CPS Energy. The partnership expects the project at the corner of West Jones Avenue and Camden Street to cost $295.2 million, according to documents that were released to the Business Journal through an open records request.

The project is expected to need $35 million in public funds to make it commercially viable, according to a cost estimate. While a timeline was not given, the team hopes to win tax increment reinvestment zone (TIRZ) funds from the Midtown TIRZ board at some point to partly make up that sum. Funds will also come from the Municipal Management District (MMD) that was established over the site recently, allowing a board appointed by city council to levy property taxes and issue bonds for the 5.9-acre site.

The bill — H.B. 5399 — was introduced by local Rep. Steve Allison and signed into law recently.

Renderings indicate a plan for 325 apartment units between a 13-story building and a six-story building, 70,000 square feet of office space in a four-story building, 146 hotel rooms and 904 parking spaces between two garages. A breakdown of development costs also reference public space and "The Barn."

Project leaders have said that the development would honor the legacy of Red McCombs, who passed away in early 2023.

McCombs Enterprises did not respond to a request for comment by publication time.

[babysal]

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[Keep-SA-Lame]

Well, this balances out that garbage at Broadway East I guess. I'm assuming there's retail in there somewhere.

[Keep-SA-Lame]

delete

[Spoiler]

I bet this is where the big Indian ends up.

[The Model]

Now this looks good! Greystreet should take notes. Hopefully this project takes off fast and maybe some of the high end stores that Greystreet hopes to attract will come over to this property.

[ajarreguin3]

I was hoping this is where Arena District will be but I love the protect.

[JACKinBeantown]

Originally Posted by ajarreguin3

I was hoping this is where Arena District will be but I love the protect.

I agree that this is a really nice project, and I'd rather have them implode the Institute of Texan POS and build an arena there.

[futuresooner]

Excellent proposal and renderings that further tie The Pearl to downtown since I-35 is going nowhere anywhere remotely on the horizon. Plus it keeps building up the Riverwalk, which is a big win.

[theOGalexd]

This looks good. Such a prime piece of land that was begging to get developed. I'm hoping someone will come along and break the 10-15 story plateau that's starting to happen around there though.

[SproutingTowers]

Cross off this site for the new basketball arena.

[theOGalexd]

Originally Posted by SproutingTowers

Cross off this site for the new basketball arena.

Honestly I feel like there's a lot of potential lots/old buildings in River North that could work. I'm not sure what the arena in Sacramento used to be but they plopped that one smack downtown.

ITC wouldn't be bad either, but I'd rather see it north of downtown personally.

[Onward]

Not bad at all, I think the scale is about right for the most part. Especially for the proposed buildings along the river. As mentioned a big step in improving the connection between downtown and the Pearl.

Originally Posted by theOGalexd

This looks good. Such a prime piece of land that was begging to get developed. I'm hoping someone will come along and break the 10-15 story plateau that's starting to happen around there though.

Agreed, would have been nice to have a signature tower to help distinguish the overall project from the Pearl. I don't think something of that scale is fit for the direct river access portion. But something around 15-20 floors on top of what looks like a 5 level parking garage right next to I-35 could have worked.

[StanleyLechuga]

The McCombs project at Jones Avenue looks promising for downtown. This mixed-use development, with apartments, offices, and a hotel along the River Walk, has potential.