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Old Posted Jan 17, 2018, 3:58 PM
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SAN ANTONIO | 1603 Broadway | 20 Floors | 255 Feet | Proposed



Quote:
Broadway Street corridor makeover to get big boost from marquee projects

The transformation of the Broadway Street corridor is expected to get a major infusion of new capital investment, including a landmark development that backers believe will better connect San Antonio’s midtown and downtown.

That marquee project, 1603 Broadway, is a planned multistory, mixed-use structure earmarked for a site next to Newell Avenue. GrayStreet Partners is developing the project, said Larry Mendez, executive managing director for Transwestern, which will market the space.

Details of the project are somewhat limited as it’s still in the early stages of development. It’s not clear, for example, what the building's price tag will be. Mendez did say the building would span nearly 150,000 square feet.

“It’s going to continue the momentum we’ve seen around Pearl,” he said. “This is all part of the wave. It’s the next step.”

The mixed-use project will complement other dynamic changes occurring in the area, bringing more workers, consumers and potential residents to Broadway Street. It could also benefit several midtown stakeholders — including The Witte Museum, The DoSeum and San Antonio Zoo — that are working to create a cultural corridor along the key north-south street.

Mendez said the plan is for GrayStreet Partners to break ground on the 1603 Broadway project this spring with completion targeted for 2020.

Meanwhile, nearby, work has begun on redeveloping a pair of buildings further south on Broadway that once housed the San Antonio Light newspaper. GrayStreet Partners, which is overseeing the project, has enlisted Transwestern to market that space also.

Once the Light project is completed, Broadway will get an additional 100,000 square feet of new commercial space. Ford, Powell & Carson, a locally based architectural design firm, will help anchor the larger of the two buildings, Mendez said.

“They will be the first tenant in,” he said. “They will occupy the first floor.”

All of this is happening as the city and state prepare to collectively allocate tens of millions of dollars in public funds to improve infrastructure along Broadway.

Asked what the two GrayStreet Partners projects will do for Broadway, Mendez said, “This will be an incredible energizer. This will all link the central business district with the Pearl area.”
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