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Originally Posted by babysal
I'm happy to get this updated info from the SA Business Journal this morning. Anyone have the online account to post here? I hate pay walls!
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BizJournal Article
JMJ Development, the Dallas-based company behind recently revealed plans for a hotel on top of the Joske's building at the Shops at Rivercenter, has updated the Business Journal on its plans for the Villita Tower, a multistory mixed-use tower next to the River Walk.
When first announced in February 2016, the development on a 0.35-acre plot at 120 Villita St. was proposed as a 30-story mixed-use tower with 201 apartments. Rents were expected to reach $2.40 per square foot. It was also planned to have 12,000 square feet of ground floor commercial and retail space.
It's been over two years since that announcement, and while some details are still fuzzy, JMJ says the project is moving forward with a few design changes.
The most noticeable change is the tower's size, which has changed from 30 stories to 24 stories. While the tower has gotten shorter, the number of apartments has increased to 224. That's to the detriment of the ground floor's retail and commercial space, which has shrunk to 4,000 square feet.
The increase in apartments is likely due to changes in the building's parking plan, which will now use a new parking deck to be built across the street at 126 Villita St. That address is currently occupied by a nearly 13,000-square-foot building which houses a number of law offices. JMJ says the parking deck will be five and a half stories tall.
While a spokeswoman for JMJ has said the company has purchased the building, county deed records show the property still belonging to CLTR Properties LC. Attempts to reach the owners of the building were unsuccessful and the buildings current tenants did not get back to the Business Journal for comment by press time. JMJ says the parking deck will be five and a half stories tall.
JMJ says new renderings for the project are not available at this time, but said San Antonio-based B&A Architects and Dallas-based Fab Studio are still involved with the design. Since both properties fall within the River Improvement Overlay District (RIO-3), each project will need approval from the Historic and Design Review Commission to proceed. While the company did not say when either project will appear before the HDRC, they did say they hope to finally break ground on the project in January 2019.