SAN ANTONIO │ Lone Star Brewery Redevelopment Thread

[aggie2008]

Originally Posted by jaga185

I was just thinking about this. But I think they abandoned it for this. At least I am hoping they did. lol

From the Bizjournal article, they stated dirt supposed to start turning in the 4th quarter of this year.

Yeah, that was the premise was that they could refocus effort on this project. Looking at their website it seems like they're really focused on getting the site development ready but not actually oversee building the structures. They are looking for partners to do the building on 11 parcels under an overall master plan. Seems like it could have the benefit of having several companies bringing their own specialty and vision to the site and make it slightly more organic than one developer doing everything...

In Broadway East the only thing moving forward currently is an apartment project. They assembled the land, got incentives to improve the streets and infrastructure and then were selling it off before they put the rest of the land up for sale.

[kingkirbythe....]

Developer Adelman buys industrial site north of Lone Star Brewery

https://saheron.com/adelman-buys-pro...-star-brewery/

Local developer David Adelman and a partner have purchased a four-acre warehouse property directly north of the Lone Star Brewery with plans to build on the momentum of the area’s growth by developing it with a residential use.

[kingkirbythe....]

Lifshutz buys 4.6 acres across river from Lone Star Brewery

https://saheron.com/lifshutz-buys-ac...rom-lone-star/

Developer James Lifshutz has purchased a 4.6-acre property directly south of Roosevelt Park and across the river from the soon-to-be redeveloped Lone Star Brewery.

With his purchase of the property—a cluster of warehouses at 421 Roosevelt Ave.—he now owns at least 51 acres of land south of downtown around the San Antonio River and Mission San Jose, according to the Bexar Appraisal District

[Restless One]

Originally Posted by kingkirbythe....

Lifshutz buys 4.6 acres across river from Lone Star Brewery

https://saheron.com/lifshutz-buys-ac...rom-lone-star/

Developer James Lifshutz has purchased a 4.6-acre property directly south of Roosevelt Park and across the river from the soon-to-be redeveloped Lone Star Brewery.

With his purchase of the property—a cluster of warehouses at 421 Roosevelt Ave.—he now owns at least 51 acres of land south of downtown around the San Antonio River and Mission San Jose, according to the Bexar Appraisal District

Hasn't he held much of that land for some time now? I'm not sure what, if any revenue he's receiving on most of it, so I would think the time is coming for him to put some plans in motion.

[Spoiler]

This is fine.

San Antonio’s GrayStreet Partners and Houston’s Midway Holdings have teamed up to redevelop the former Lone Star Brewery site on the South Side. They’re also battling each other in court over property along Broadway.

Midway filed a lawsuit last week alleging GrayStreet breached a contract that gives Midway the right of first refusal to develop a massive, mixed-use community on land across from the Pearl.

It’s the second time in less than a month that GrayStreet has been sued over a right of first refusal on the property. On May 21, Denver-based McWhinney Real Estate Services Inc. filed a federal lawsuit in an attempt to stop GrayStreet from selling the land to San Antonio’s Fulcrum Development.

https://www.expressnews.com/business...t-16266380.php

[kingkirbythe....]

Analysis: Lone Star District tops list of city’s largest incentive packages

https://saheron.com/analysis-lone-st...tive-packages/

The $24 million incentive package that GrayStreet Partners and Houston developer Midway received last month to redevelop the Lone Star Brewery is the largest San Antonio has awarded for an urban development project, according to an analysis of public records from the city.

[kingkirbythe....]

Developers on track to raze non-historic buildings at Lone Star as prelude to redevelopment

https://sanantonioreport.org/develop...redevelopment/

The developers behind the long-awaited revitalization of the old Lone Star brewery have taken the first steps toward tearing down parts of the industrial complex.

In August, the city’s Office of Historic Preservation (OHP) issued certificates of approval for a number of the aging and graffitied structures GrayStreet Partners and Midway want to remove as part of the demolition plan they have submitted to the city for approval.

In historic districts, builders must receive certificates of approval before applying for demolition permits. The 32-acre Lone Star property is in the Mission Historic District.

[AwesomeSAView]

Originally Posted by kingkirbythe....

Developers on track to raze non-historic buildings at Lone Star as prelude to redevelopment

https://sanantonioreport.org/develop...redevelopment/

The developers behind the long-awaited revitalization of the old Lone Star brewery have taken the first steps toward tearing down parts of the industrial complex.

In August, the city’s Office of Historic Preservation (OHP) issued certificates of approval for a number of the aging and graffitied structures GrayStreet Partners and Midway want to remove as part of the demolition plan they have submitted to the city for approval.

In historic districts, builders must receive certificates of approval before applying for demolition permits. The 32-acre Lone Star property is in the Mission Historic District.

FANTASTIC NEWS!!!

[The Model]

[IMG]Lone Star Brewery by Raul Medina III, on Flickr[/IMG]

[AwesomeSAView]

Anyone know if apartments are in the works for this development and how tall they will be, because from The Model's pic, that is an AWESOME view of downtown SA. Developers take note!

[JRG1974]

Starting to see some progress out at the site. Looks like the demo crew is done with their part. I saw them out there a couple of weeks ago, and it looks like they removed all of the debris from the structures they were tearing down.

I know that there have been many concerns about GreyStreet as a developer lately, but hopefully their partnership on this project will pay off.

[satx23]

Fate of Lone Star Brewery makeover unclear as site is back on the market

https://www.bizjournals.com/sananton...he-market.html

The 32-acre site once home to Lone Star Brewery is again for sale, putting plans for a major destination development south of downtown San Antonio in doubt.

The latest twist in what has been a multi-decade effort to revitalize the once hopping area along the San Antonio River comes less than a year after City Council approved as much as $24 million in incentives to support the nearly $600 million project.

The Business Journal reported in spring 2020 that a subsidiary of GrayStreet Partners was acquiring the real estate along Lone Star Boulevard.

Last year, GrayStreet enlisted the help of Midway, a Houston-based real estate investment, development and management firm to help with the reimagining the Lone Star property. They’ve pursued a redevelopment plan for the former beer-making site that could include a mix of office, hotel and retail development.

“Together with our partners, we are exploring the opportunity to sell all or part of the Lone Star District,” Midway confirmed in a statement, noting that the firm often considers such sales throughout the development cycle of its projects.”

GrayStreet managing partner Kevin Covey was unavailable for comment at press time.

[theOGalexd]

Originally Posted by satx23

Fate of Lone Star Brewery makeover unclear as site is back on the market

https://www.bizjournals.com/sananton...he-market.html

The 32-acre site once home to Lone Star Brewery is again for sale, putting plans for a major destination development south of downtown San Antonio in doubt.

The latest twist in what has been a multi-decade effort to revitalize the once hopping area along the San Antonio River comes less than a year after City Council approved as much as $24 million in incentives to support the nearly $600 million project.

The Business Journal reported in spring 2020 that a subsidiary of GrayStreet Partners was acquiring the real estate along Lone Star Boulevard.

Last year, GrayStreet enlisted the help of Midway, a Houston-based real estate investment, development and management firm to help with the reimagining the Lone Star property. They’ve pursued a redevelopment plan for the former beer-making site that could include a mix of office, hotel and retail development.

“Together with our partners, we are exploring the opportunity to sell all or part of the Lone Star District,” Midway confirmed in a statement, noting that the firm often considers such sales throughout the development cycle of its projects.”

GrayStreet managing partner Kevin Covey was unavailable for comment at press time.

woof lol. maybe a new buyer can actually get a project off the ground for once.

[kingkirbythe....]

Graystreet suuuuuucks.

[Jake Tex]

Originally Posted by kingkirbythe....

Graystreet suuuuuucks.

I get that sentiment. I will say that by buying the property they've bought, particularly the SAISD land along Broadway, they have done much of the due diligence and entitlement work that allows a buyer developer to hit the ground running on a new project. And covid threw a big wrench in all developers' plans around the country.

[Restless One]

Originally Posted by satx23

Fate of Lone Star Brewery makeover unclear as site is back on the market

https://www.bizjournals.com/sananton...he-market.html

The 32-acre site once home to Lone Star Brewery is again for sale, putting plans for a major destination development south of downtown San Antonio in doubt.

The latest twist in what has been a multi-decade effort to revitalize the once hopping area along the San Antonio River comes less than a year after City Council approved as much as $24 million in incentives to support the nearly $600 million project.

The Business Journal reported in spring 2020 that a subsidiary of GrayStreet Partners was acquiring the real estate along Lone Star Boulevard.

Last year, GrayStreet enlisted the help of Midway, a Houston-based real estate investment, development and management firm to help with the reimagining the Lone Star property. They’ve pursued a redevelopment plan for the former beer-making site that could include a mix of office, hotel and retail development.

“Together with our partners, we are exploring the opportunity to sell all or part of the Lone Star District,” Midway confirmed in a statement, noting that the firm often considers such sales throughout the development cycle of its projects.”

GrayStreet managing partner Kevin Covey was unavailable for comment at press time.

Somebody is doing some sight work. Drive by there on Lone Star boulevard, and you will see a deep, long hole being dug by somebody. Did they start, then stop?

It doesn't look to be because of the recent fire, but I guess it could be.

[Keep-SA-Lame]

Sounds like Midway got cold feet about the partnership.

[Tornado]

Is anyone surprised about another misfire development by graystreet? The faster they can divest themselves of assets in san antonio, the better. They are the Fyre Festival equivalent of developers in San Antonio.

[bosshaa5]

I don't have a subscription to the bizjournal, but I saw a headline that said there will be some demo and environmental cleanup happening at the Lone Star. If anyone does have access please post!

[SAguy]

By W. Scott Bailey
Senior Reporter, San Antonio Business Journal

Developer is now focused on environmental and demolition work ahead of initial vertical construction, according to city officials.

Nearly three years after GrayStreet Acquisitions closed on a deal to acquire land south of downtown San Antonio once home to Lone Star Brewery, preliminary work is underway to prepare the 32-acre site for an ambitious redevelopment.

Last spring, there was every reason to suspect this latest revitalization plan could suffer the fate of those before it, as the real estate was back on the market, potentially jeopardizing as much as $24 million in municipal incentive money earmarked for the landmark project.

GrayStreet and project partner Midway have said little publicly about the planned redevelopment in some time. But city officials confirm that work is underway after GrayStreet cleared some hurdles, including securing San Antonio’s Historic and Design Review Commission approval.

“They were able to go through those steps and now they're focused on environmental remediation, some of the demolition of buildings that need to be removed for the project,” said Ian Benavidez, deputy director for the city of San Antonio’s Neighborhood & Housing Services Department.

GrayStreet is using some of the $24 million in public incentives funding to carry out that work. Actual construction on the planned mixed-use development could begin before the end of the year, according to Benavidez, who said the developer still has some additional hurdles to clear. 

“They should hopefully be going vertical once they get clearance on the environmental side,” Benavidez said, noting such approval could come as soon as this summer.

I reported in March 2022 that the Lone Star site was back on the market, putting plans for a major destination development south of downtown San Antonio in doubt. 

“Together with our partners, we are exploring the opportunity to sell all or part of the Lone Star District,” Midway confirmed in a statement at the time.

The $24 million incentive package approved by the city in 2021 was tied to an approximately $600 million Lone Star redevelopment. Assistant City Manager Lori Houston said the incentives agreement would not convey in a sale of the site.

“The contract is with GrayStreet,” she said.

At one point, Benavidez said city officials reached out to GrayStreet about its intent for the land.

“They said they were exploring what was out there,” he said.

In July, then Bexar County Judge Nelson Wolff said the Lone Star acreage was among multiple sites under consideration for a potential new baseball stadium.

Ultimately, GrayStreet informed the city that it intended to hold on to the Lone Star land. And if it can pull off what multiple groups before it could not, the economic impact could spread further southward.

GrayStreet Partners managing partner Kevin Covey, whose subsidiary GrayStreet Acquisitions locked in the Lone Star site in May 2020, nearly two months into the pandemic, warned then that redeveloping the area would require a heavy lift.

“There are a lot of challenges to that site,” he said. “But there is nothing here that is insurmountable if we all collectively put our heads together.”

Benavidez said “the potential was always there” for what GrayStreet envisioned to become a “transformative project.”