SAN ANTONIO | The Durango | 151 FT / 46 M | 13 FLOORS

[Urbannizer]

Developer: Laney Development
Architect: Rhode Partners
Type: Multifamily, 73 units Retail, 643 ft
Location: 421 S. Presa St, La Villita
Construction Timeline:

13-story luxury apartment tower downtown gets go-ahead from city committee

Plans for a 13-story upscale downtown apartment tower received final approval from the city Wednesday afternoon.

The complex, called The Durango and located on the northwest corner of Presa Street and East Cesar E. Chavez Boulevard, will include parking, retail, and residential space, according to documents from the city's Historic and Design Review Commission.

In a phone call Thursday, Laney Development Principal Drew Proctor said rent prices had not yet been determined. In a March meeting, however, manager Tim Proctor had said individual unit prices would range from $1,700 per month up to $6,500 per month, making the complex one of the priciest to rent in San Antonio.

The three ground-floor live-work units, which will include an office in the front and a bedroom, kitchen, and bathroom in the back, will be the most economical, Tim Proctor said during the meeting.

The 73-unit structure is estimated to cost about $32 million and construction is anticipated to be complete within two years, Drew Proctor said. Construction should begin within one year, he said.

The project was awarded about $350,000 worth of tax incentives in March, which will cover 40 percent of developer Laney Development’s real and personal property taxes for 10 years, a March Express-News article said.

[JMKeynes]

That’s good news!