SAN ANTONIO | Urban Core Development Thread

[STLtoSA]

Originally Posted by The Model

I did see this too. But because its only being taped off I want to bet they are just repaving the lot. I hope I'm wrong, would love to see a nice high rise building built here.

I walked by there after work.

They completely ripped up the lot, but then they laid new base and are now paving it today.

With that kind of investment I don't think that the lot is going anywhere anytime soon.

[sirkingwilliam]

I've grown to like the design for the new courthouse.

[sirkingwilliam]

Great news for downtown!

Chris Hill, owner of the Esquire Tavern, buys the Witte Building
After buying the Fish Market building on the same block

The 100 block of West Commerce Street, once one of the vibrant spots in the center of town, has the potential for a massive comeback, thanks to one downtown property owner.

Last year, Chris Hill, owner of the Esquire Tavern on the same block, purchased the long-vacant Sullivan Bank and MIC buildings at Commerce and St. Mary’s streets.

Hill has now purchased the circa-1866 Witte building, 135 E. Commerce St., known for its dilapidated “Chinese Restaurant,” a reminder of its last tenant.

In June, Hill bought the Sullivan Bank and MIC buildings, 151-155 E. Commerce St., collectively known as the Alamo Fish Market. At the time, he hadn’t decided whether it would become a hotel, residential, office — or a mix.

“Couldn’t tell you,” Hill said.

In 2008, Hill purchased The Esquire Tavern and resuscitated it from near demise. The storied bar had been closed, and was going to be turned into a barbecue restaurant. Under Hill, it underwent a costly renovation and reopened in 2011.

Here's a rendering of the Fish Market building as currently proposed.

[WorldTexas]

Big news for downtown residents. I'm a little disappointed it didn't make it into the core, but it's exciting that we're getting this type of format! Hopefully the next one will be at the base of a new downtown tower.

H-E-B plans to demolish, replace Nogalitos store
By Neal Morton


H-E-B plans to demolish its oldest operating store, at 1601 Nogalitos St., and replace it with a multilevel market with parking in the building on the first floor. A wide escalator will carry customers and their grocery carts between both floors.

In May, the locally based grocer will start tearing down the 69-year-old store and replace it with a modern, second-story market that features parking in the building on the first floor and an expanded assortment of food and general merchandise.

A wide escalator with a slight incline will carry customers and their grocery carts between the two floors, said spokeswoman Dya Campos.
“We have a similar design that is multilevel in Mexico,” she said. “This is the first time we'll use this kind of design in Texas."

The construction will nearly triple the existing store's footprint to 62,000 square feet, which H-E-B plans to fill with a new deli area, the addition of a prepared food department and expanded produce, meat and seafood sections.


http://www.expressnews.com/business/...re-5194382.php

[WorldTexas]

On a separate note, today I was told that downtown residential rates are at about $1.70 per sq ft, up from $1.40 about four years ago. We're getting really close to that magic $2.00 mark where the City might be able to stop incentivizing develop as the pure market takes over.

Correct me if I'm wrong, but I believe that's also the number where taller residential developments start making financial sense.

[UrbanTrance]

Originally Posted by WorldTexas

On a separate note, today I was told that downtown residential rates are at about $1.70 per sq ft, up from $1.40 about four years ago. We're getting really close to that magic $2.00 mark where the City might be able to stop incentivizing develop as the pure market takes over.

Correct me if I'm wrong, but I believe that's also the number where taller residential developments start making financial sense.

Interesting. I looked that up and it seems like the $2 mark was great for Atlanta and is what Detroit aspires to have in its downtown. Hopefully this bodes well.

[UrbanTrance]

Did anyone else see this on the news? Micro apartments being built downtown.

http://www.woai.com/articles/woai-lo...hold-12027823/

http://m.news4sanantonio.com/news/38...wn_San_Antonio

[Keep-SA-Lame]

Originally Posted by WorldTexas

Big news for downtown residents. I'm a little disappointed it didn't make it into the core, but it's exciting that we're getting this type of format! Hopefully the next one will be at the base of a new downtown tower.

I'm a little sad about that, I always loved that cool vintage HEB. That said, this will be great model/experiment for HEB and hopefully a move towards greater density in the future for their stores.

[Keep-SA-Lame]

Originally Posted by Alice93

Did anyone else see this on the news? Micro apartments being built downtown.

http://www.woai.com/articles/woai-lo...hold-12027823/

http://m.news4sanantonio.com/news/38...wn_San_Antonio

Awesome! Great news for downtown. I've heard about the concept in places like Seattle. Glad to see it taking root here.

[cole world11]

The new HEB is going to be so nice! I really like it a lot! Very sleek and modern, A+ from me.

[Rynetwo]

Originally Posted by Alice93

Did anyone else see this on the news? Micro apartments being built downtown.

http://www.woai.com/articles/woai-lo...hold-12027823/

http://m.news4sanantonio.com/news/38...wn_San_Antonio

I wonder which lot this will take up? That whole intersection where he has plans to build the 200+ unit complex is filled with parking lots.

[kornbread]

I think the parking lots are spoken for. One is for the abandoned att campus and the other 2 are for the Baptist Church across from att.

The Northwest corner where there is/was an automotive repair? shop (next to KLRN) is likely the spot. Whether or not it takes up the entire block from Ave B to 6th or just that one corner (hard to say).

It will be interesting to hear more details. They're smaller apartments, but with the amenities and however they configure the parking, I imagine there could be 5 floors of apartments.

[UrbanTrance]

Originally Posted by Rynetwo

I wonder which lot this will take up? That whole intersection where he has plans to build the 200+ unit complex is filled with parking lots.

This was posted on Urbantonio. I wonder if we will get a little height out of this.



http://urbantonio.com/projects/project/micro-apartments

[whatdoyouwantandwhy]

Well according to the city the maximum floors that can be built in the area is 10 or 8 if I am not mistaken.

[Bigfoot Yancey]

I have a couple of questions for those who may know what is going on here, and I am not trying to stir anything up, just better understand how this process works:

On the CCDO website they have a list of completed projects. Well one project somehow received more than half of construction cost in what is called 'public incentives'. I was a little curious about how that can be possible. Did they add a digit? After that I found that the appraised value on BCAD is less than the amount of public incentives. Obviously this amount of public incentive is impossible for every project, but how is then possible for one?

[miaht82]

Originally Posted by Bigfoot Yancey

I have a couple of questions for those who may know what is going on here, and I am not trying to stir anything up, just better understand how this process works:

On the CCDO website they have a list of completed projects. Well one project somehow received more than half of construction cost in what is called 'public incentives'. I was a little curious about how that can be possible. Did they add a digit? After that I found that the appraised value on BCAD is less than the amount of public incentives. Obviously this amount of public incentive is impossible for every project, but how is then possible for one?

I assume you are talking about the Hughes warehouse...

Disclaimer: I know none of the details of this project, but having followed other projects in/around downtown for the last few years, and this is how I would bring myself to understand this situation.

The construction costs may very well have been $4,000,000, and the "incentives" may be >$2.6 million, however those incentives include everything from infrastructure costs to tax relief incentives, so not all of that is cash up front towards construction. Keep in mind also that this is a warehouse that was cleaned up and converted to shell office space, not into residences, so that kept overall costs down (on the building itself). Being that it was a warehouse and is now "offices", it probably is valued differently and most of those incentives are probably there to keep those property taxes down, sometime for a very long time.

Again, I don't any of the details of this project, only what is presented on the CCDO website and my guesses as to how this is possible. I could be wrong.

[Bigfoot Yancey]

Thanks, that does help explain it. I didn't think that tax relief is ever achieved by artificially suppressing the appraised value, right? It would just be a rebate. And I've never heard of any county or state incentives in the first place.

I hear you though that tenant finish outs could well push appraised value closer to the investment.

I'm wondering what else could have been necessary to drive up the city's bill that high though? Asbestos abatement or something? Is this public record?

[Keep-SA-Lame]

Downtown loses 300 more jobs:

http://www.bizjournals.com/sanantoni...-westover.html

[kornbread]

Originally Posted by Keep-SA-Lame

Downtown loses 300 more jobs:

Yeah, their plans to leave were actually known when the building was sold. It's too bad that they couldn't stay downtown, but they must have been planning this move for some time. I wasn't aware what their presence currently is in Westover Hills.

[STLtoSA]

Originally Posted by Keep-SA-Lame

Downtown loses 300 more jobs:

http://www.bizjournals.com/sanantoni...-westover.html

Kind of a non-issue.

For one the employees will still be downtown until there is a place to go. Then when the move happens the space will be taken up by another entity.

Remember, they are basically being kicked-out and with the sale of the building by Frost it was highly unlikely that they build anything else downtown.

Has anyone heard what kind of renovation plans they have for the Rand building? It is an awesome building (I get to walk by it every day), but I would bet that the interior could use some work to accommodate Geekdom.