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  #7001  
Old Posted May 21, 2024, 6:57 PM
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Cattleman Square Lofts project dead after financing issues


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The San Antonio Housing trust wants to build a taller structure than was previously planned.

By James McCandless – Reporter, San Antonio Business Journal
May 21, 2024

After years of planning, an affordable housing project in the downtown area has been scrapped.

The San Antonio Housing Trust is planning on acquiring the property at 811 W. Houston St., a parcel that a local nonprofit had been eyeing for the Cattleman Square Lofts affordable housing development, for $3,335,000. Alamo Community Group currently owns the land and, up until recently, had been seeking financing to start the build.

SAHT Executive Director Pete Alanis told the Westside Tax Increment Reinvestment Zone board Monday that the team was "two weeks away" from closing on financing before the deal unraveled. With no other prospective funder coming forward, SAHT is stepping in to secure the land for another affordable project. Land banking the tract for a future development, the organization plans to use about $2.53 million from the TIRZ and other city funds previously earmarked for the project.

"When this opportunity came up, the concept of preserving affordability near transit is something that we desperately need," he said to the board. "So we didn't want the property to fall into the hands of a market rate developer."

The development would have added 138 affordable housing units to the Cattleman Square Historic District with an expected price tag of about $36.4 million, according to a 2023 underwriting report from the Texas Department of Housing and Community Affairs. The project had won $38 million in state low-income housing tax credits, which will revert back to the state. There are no immediate plans to develop the site.

Alanis told the Business Journal that the Housing Trust will begin a community engagement effort after closing on the site. He says that while no replacement plans have been drawn up yet, he thinks this is an opportunity to come forward with a structure taller than Cattleman Square Lofts that can put as many people as possible close to public transit.

"I think what we have to do looking forward is look for an option for higher density," he said. "We want to make sure we're taking advantage of the fact that it's across the street from one of the major transit centers in our community. So we want to be able to provide as many units as possible, giving access to as many families as possible to (VIA) Centro Plaza."

He added that the organization is looking for land banking opportunities around the city, pointing out recent activity on the South Side and Midtown. He said the group hopes to close on land for six projects over the summer.

Despite the current economic challenges hampering affordable development, Alanis said SAHT is sticking to its mission to try and meet demand.

"I think it's important that we keep the foot on the pedal with respect to meeting the demand needs of our community," he said. "Even though we have a dip in absorption, that dip is probably going to be temporary. We're looking at about a year/year and a half dip in absorption, but those units are going to be absorbed."

Both the San Antonio City Council's Planning and Community Development Committee and the Westside TIRZ board approved SAHT's request. The measure has to be approved by City Council, followed by a 60-day feasibility review and a 60-day closing period.

Alamo Community Group Executive Director Christine Drennon declined to comment for this story.
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  #7002  
Old Posted Jul 2, 2024, 5:30 PM
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15-story condo building proposed in Government Hill near Pearl

The development could include a small grocery store and coworking space.

By Madison Iszler,
Staff writer
SAEN
July 2, 2024

https://www.expressnews.com/business...t-19545688.php

A 15-story building with condominiums and a small grocery store could be built about four blocks from Pearl, adding to the surge of housing, hotels and restaurants rising around the redeveloped brewery and San Antonio’s limited condo inventory.

The project would be built on two lots in the Government Hill neighborhood at 1312 and 1316 Austin St., which are owned by a company affiliated with Austin-based commercial real estate firm Sabot Development.

The building would have one-, two- and three-bedroom units — though it’s unclear how many — and four levels of parking with 96 spaces, Metropolitan Development Co. principal Paul “Pawel” Hardej and architect Sofia Maritza Ramos told residents at a recent meeting of the Government Hill Alliance Neighborhood Association.

Prices would start in the $300,000s and go up from there. The building’s design would reflect the neighborhood, with brick materials and arches similar to those in Pearl buildings, they said.

Hardej and Ramos also described coworking space and a “community-oriented” grocery store on the street level.

The absence of more grocery options in the area is a frequent complaint among Government Hill residents. H-E-B’s upscale Central Market store is about 2 miles north on Broadway, and its small SoFlo Market store is about 4 miles south in the Lone Star neighborhood. The new 40,000-square-foot Pullman Market at Pearl, however, has a grocery department. When Hardej was studying the neighborhood for his project, he said he was “shocked” by how few options there are.

Sabot has not submitted a rezoning request to the city of San Antonio, as Hardej and Ramos said they wanted to get residents’ input on the project first and the support of the neighborhood association. Several attendees said they liked the plan and asked about pricing and how long construction could take.

“We’re here first because you live here, I don’t, so we want to listen to you,” Hardej, who lives in Austin, told residents.

The two lots on Austin Street total nearly a half-acre. Sabot would ask the city for permission to rezone a lot that is occupied by a moving business and zoned for commercial use. The other lot is vacant and zoned for infill development, which allows for the project. Hardej said construction could begin by the end of 2025 and will likely take about three years.

Metropolitan Development has worked on multiple residential towers with ground-floor retail in Chicago, St. Louis and Austin, including the 44 East Ave, 80 Rainey and One Oak developments in Austin. The firm has also been involved in Flix Brewhouse projects, including the theater at 845 Loop 1604 in San Antonio.

Last edited by babysal; Jul 2, 2024 at 6:33 PM.
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  #7003  
Old Posted Jul 2, 2024, 6:27 PM
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Quote:
Originally Posted by babysal View Post
The development could include a small grocery store and coworking space.

By Madison Iszler,
Staff writer
SAEN
July 2, 2024

https://www.expressnews.com/business...t-19545688.php

A 15-story building with condominiums and a small grocery store could be built about four blocks from Pearl, adding to the surge of housing, hotels and restaurants rising around the redeveloped brewery and San Antonio’s limited condo inventory.

The project would be built on two lots in the Government Hill neighborhood at 1312 and 1316 Austin St., which are owned by a company affiliated with Austin-based commercial real estate firm Sabot Development.

The building would have one-, two- and three-bedroom units — though it’s unclear how many — and four levels of parking with 96 spaces, Metropolitan Development Co. principal Paul “Pawel” Hardej and architect Sofia Maritza Ramos told residents at a recent meeting of the Government Hill Alliance Neighborhood Association.
There's a paywall at the link. Any renderings or other information about the project?
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  #7004  
Old Posted Jul 2, 2024, 6:32 PM
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Any news about the proposed project at Camden and West Jones? I believe it had a few buildings, one of which was about 13 or 14 stories.
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  #7005  
Old Posted Jul 2, 2024, 7:42 PM
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No rendering for the Grayson project and nothing recently from the McCombs project on Jones.
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  #7006  
Old Posted Jul 2, 2024, 8:31 PM
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Originally Posted by Keep-SA-Lame View Post
No rendering for the Grayson project and nothing recently from the McCombs project on Jones.
Thank you for reminding me to the "name" of the McCombs project on Jones. There actually are renderings on the thread for it. It looks pretty good. Hope it gets built.

https://skyscraperpage.com/forum/sho...d.php?t=256358
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  #7007  
Old Posted Jul 3, 2024, 6:37 AM
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Originally Posted by JACKinBeantown View Post
Thank you for reminding me to the "name" of the McCombs project on Jones. There actually are renderings on the thread for it. It looks pretty good. Hope it gets built.

https://skyscraperpage.com/forum/sho...d.php?t=256358
I think the McCombs organization wouldn't announce the project unless they were fully committed. I'm sure they'll build it, unless, you know, society collapses or something.
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  #7008  
Old Posted Jul 8, 2024, 6:37 PM
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Originally Posted by Spoiler View Post
I think the McCombs organization wouldn't announce the project unless they were fully committed. I'm sure they'll build it, unless, you know, society collapses or something.
Form SABJ article on 07/05/2024:

Quote:
It also received special dispensation from the Texas Legislature last year for public assistance on Jones Avenue at Museum Reach, a mixed-use project it is building in the heart of San Antonio along the river.
The full article is about a SW side commercial project.

https://www.bizjournals.com/sananton...velopment.html
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  #7009  
Old Posted Jul 16, 2024, 4:59 AM
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This interference by TXDOT enrages me.

https://www.expressnews.com/news/art...t-19556321.php

"The Texas Department of Transportation will tear up part of the sidewalk outside the Credit Human headquarters to make room for a southbound traffic lane on Broadway — more fallout from the state’s 2022 decision to block the city of San Antonio from narrowing a section of the street.

Later this month, TxDOT will demolish and rebuild a portion of the sidewalk and curb between Pearl Parkway and East Grayson Street to “restore the third lane,” spokesperson Jennifer Serold said in a statement. “The third lane is expected to be open to traffic by the end of 2024.”

The planned demolition is another blow to the city’s vision of turning a stretch of Broadway near the Pearl into a more welcoming and safer thoroughfare for pedestrians and bicyclists — one shared by Pearl owner Silver Ventures Inc...."
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  #7010  
Old Posted Jul 16, 2024, 2:00 PM
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TxDoT is a terrorist organization. I live off Broadway and I've been watching them working very closely because this entire process has been 100% non-transparent, it's been completely impossible to determine what their "improvements" are going to be. I think the good news is that their budget is pretty small for this project so the amount of damage they can do is limited, they've mostly just been patching pot holes and replacing curbs and sidewalks.

My fear was they would actually widen the street further to make 12 foot lanes instead of the current "substandard" 10 foot lanes so that Broadway would be more like Culebra Rd (the city's most dangerous street). So while adding the traffic lane back between Grayson and Newell is shitty, I think we got lucky TxDoT didn't have the money to make it even shittier.

My most delusional opinion right now is that at least this will at least keep it as a blank canvas for an LRT corridor in 25 years. -_-
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  #7011  
Old Posted Jul 17, 2024, 8:27 AM
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TxDoT is a terrorist organization....
...keep it as an LRT corridor in 25 years. -_-
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  #7012  
Old Posted Jul 17, 2024, 7:44 PM
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Originally Posted by Keep-SA-Lame View Post
...at least keep it as a blank canvas for an LRT corridor in 25 years.
I didn't even think of that! By keeping the extra lane they could easily add LRT and keep 2 lanes each way... bright side!
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  #7013  
Old Posted Jul 22, 2024, 7:56 PM
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I hear small rumors of something happening in this location. (Somebody I know lives nearby, but they're not a building fanatic.) Does anybody know anything?

https://www.google.com/maps/@29.4162...!1e3?entry=ttu
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