SA - Pearl District > Eighteen Hundred > Renderings and Information

[sirkingwilliam]

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Apparently the area around the Pearl brewery is now called the Pearl District. Don't get me wrong, I like the sound of it but with Portland's highly touted Pearl District, I'm not sure if it was wise to use that name. Anyway, besides that, a new apartment development is proposed for Broadway and Grayson St. This looks quite nice and I think is just the beginning of something wonderful for that area.

Consisting of 3 four-story buildings, 205 apartment units, 2 live/work units, 3 courtyards and a multi-story parking structure. Eighteen Hundred in the Pearl District will be one of many new developments for the now established Pearl District.

Location:

[sirkingwilliam]

Urban apartments planned on Broadway

Web Posted: 07/19/2007 08:16 PM CDT
http://www.mysanantonio.com/business...0.2b700a0.html

Rachel Stone
Express-News Business Writer

Urban living options in San Antonio are about to expand.

A Dallas-based developer is planning about 200 rental apartment units for the 1800 block of Broadway at Grayson Street.

Regent Communities Inc. bought the 3-acre site earlier this year. It includes a Snow White Cleaners & Tailors and a vacant building that used to house Fox Photo.

The developer received approval from the San Antonio Historic and Design Review Commission on Wednesday and expects to begin demolition in November. Construction could start in December, and the apartments would be ready about 18 months later, said Chad Carey, Regent Communities' acquisitions manager.

The Eighteen Hundred, as the project is named, will include apartments for three income levels, with the lowest starting at about $800 a month for a small one-bedroom, Carey said. Other prices for the planned 18 floor plans haven't been released.

The four-story complex will include interior courtyards with a pool and fountains and a parking garage. The four buildings will extend all the way to a wide sidewalk on Broadway.

"This will be a great place to walk," Carey said.

It's close to the Pearl Brewery, Sam's Burger Joint, Liberty Bar, Timbo's and several other restaurants.

The design from Dallas-based James, Harwick + Partners Inc. is contemporary, but not "hyper-modern."

"It's going to be pretty cool," Carey said.

And "cool" is the operative word. Apartments, as opposed to condos, are more likely to draw the young, hip people that Carey thinks are necessary for urban renewal.

"Urban revitalization almost always begins with younger people because they add that 24/7 vitality," he said. "We want it to be a place where the residents are going to be out in the streets and in the restaurants."

And Regent Communities' demographic research showed that there is unmet demand for downtown rental units.

There are about 1,019 market-rate apartment units in downtown San Antonio and more than 1,000 are planned or under construction, according to an April study of downtown housing from PKF Consulting. Among the projects planned is San Antonio-based Cross & Co.'s the Vistana, a 250-unit complex near Market Square.

Several projects are aimed at revitalizing Broadway just north of downtown. Most notable is Silver Ventures' Pearl Brewery, where eight live/work apartments ranging from 650 to 1,300 square feet are under construction. Those are expected to rent for between $1.40 and $1.50 per square foot.

The Eighteen Hundred is a "great idea in a great location," said Bill Shown, Silver Ventures' managing director of real estate.

"Broadway, from downtown to Hildebrand, appears poised for a rebound, and this is just another part of it," Shown said. "San Antonio's downtown living options are scarce, so we just think there's a need for it and this will help fill that need."

[sirkingwilliam]

Urban apartments planned on Broadway

Web Posted: 07/19/2007 08:16 PM CDT
http://www.mysanantonio.com/business...0.2b700a0.html

Rachel Stone
Express-News Business Writer

Urban living options in San Antonio are about to expand.

A Dallas-based developer is planning about 200 rental apartment units for the 1800 block of Broadway at Grayson Street.

Regent Communities Inc. bought the 3-acre site earlier this year. It includes a Snow White Cleaners & Tailors and a vacant building that used to house Fox Photo.

The developer received approval from the San Antonio Historic and Design Review Commission on Wednesday and expects to begin demolition in November. Construction could start in December, and the apartments would be ready about 18 months later, said Chad Carey, Regent Communities' acquisitions manager.

The Eighteen Hundred, as the project is named, will include apartments for three income levels, with the lowest starting at about $800 a month for a small one-bedroom, Carey said. Other prices for the planned 18 floor plans haven't been released.

The four-story complex will include interior courtyards with a pool and fountains and a parking garage. The four buildings will extend all the way to a wide sidewalk on Broadway.

"This will be a great place to walk," Carey said.

It's close to the Pearl Brewery, Sam's Burger Joint, Liberty Bar, Timbo's and several other restaurants.

The design from Dallas-based James, Harwick + Partners Inc. is contemporary, but not "hyper-modern."

"It's going to be pretty cool," Carey said.

And "cool" is the operative word. Apartments, as opposed to condos, are more likely to draw the young, hip people that Carey thinks are necessary for urban renewal.

"Urban revitalization almost always begins with younger people because they add that 24/7 vitality," he said. "We want it to be a place where the residents are going to be out in the streets and in the restaurants."

And Regent Communities' demographic research showed that there is unmet demand for downtown rental units.

There are about 1,019 market-rate apartment units in downtown San Antonio and more than 1,000 are planned or under construction, according to an April study of downtown housing from PKF Consulting. Among the projects planned is San Antonio-based Cross & Co.'s the Vistana, a 250-unit complex near Market Square.

Several projects are aimed at revitalizing Broadway just north of downtown. Most notable is Silver Ventures' Pearl Brewery, where eight live/work apartments ranging from 650 to 1,300 square feet are under construction. Those are expected to rent for between $1.40 and $1.50 per square foot.

The Eighteen Hundred is a "great idea in a great location," said Bill Shown, Silver Ventures' managing director of real estate.

"Broadway, from downtown to Hildebrand, appears poised for a rebound, and this is just another part of it," Shown said. "San Antonio's downtown living options are scarce, so we just think there's a need for it and this will help fill that need."

[sirkingwilliam]

Aparently this same developer (Regent Properties) has plans for more developments in the downtown area.

[KevinFromTexas]

So what's the story behind the Pearl Brewery? I had gotten a picture of it on Sunday from the tower, and I noticed it has scaffolding up around it. You mention the area is being revitalized and I read that the plant is closed now due to a merger with Miller. It (Wikipedia), mentioned that the plant will be included in the project. Any word on what it'll be used for?

It looks like a beautiful structure. Apparently it was built in 1894.

http://en.wikipedia.org/wiki/Pearl_Brewery

And, what building is that in the foreground to the left?

[sirkingwilliam]

Pearl brewery shut down due to a merger/etc, Silver Ventures bought the place and is now redeveloping it into a mixed-use complex with housing, retail, work and entertainment. Right now the Pearl is home to both Aveda Institute and the CIA (Culinary Institute of America) which is consider the premier culinary academy in America and one of the tops in the world.

[chadpcarey]

SirKingWilliam:

Thanks for your comments on our project. We're awfully excited about it, and are actively working to develop additional urban projects in this area.

We're also in design on a project (for sale live-work) at Cevallos & Probandt, but it's in a very early stage.

Thanks again!

Chad Carey.

[sirkingwilliam]

Originally Posted by chadpcarey

SirKingWilliam:

Thanks for your comments on our project. We're awfully excited about it, and are actively working to develop additional urban projects in this area.

We're also in design on a project (for sale live-work) at Cevallos & Probandt, but it's in a very early stage.

Thanks again!

Chad Carey.

No problem. It looks and will be a fantastic project and will add greatly to Lower Broadway/Pearl District. Does your company have a website?

[chadpcarey]

www.RegentCompanies.com

But there's no info on The Eighteen-Hundred...yet.

Chad.

[alexjon]

Oh man, that's my neighborhood!

No wonder appraisals have been skyrocketing

[alexjon]

Idea to pose to developers and the general populous: Would a streetcar from downtown (perhaps starting at the losoya switch-over?) up broadway to the general area be profitable and a good idea?

[chadpcarey]

There has been some very theoretical discussion about that. I think it's a great idea, and would serve as a great driver for infill development. But it's certainly not a profitable idea! Transit is terribly expensive.

Chad.

[pdxtraveler]

Originally Posted by alexjon

Idea to pose to developers and the general populous: Would a streetcar from downtown (perhaps starting at the losoya switch-over?) up broadway to the general area be profitable and a good idea?

With the name and the streetcar it would really be PDX Pearl-esque! But it sure worked great here, didn't it alexjon.

[alexjon]

Originally Posted by chadpcarey

There has been some very theoretical discussion about that. I think it's a great idea, and would serve as a great driver for infill development. But it's certainly not a profitable idea! Transit is terribly expensive.

Chad.

Oh, no, quite the contrary. Billions of dollars have been sunk into development around the streetcar line in Portland, and a streetcar of the sort seems to be a very San Antonio solution! We have a lot of potential alignments for a streetcar available-- perhaps from Travis Park, past AT&T, and straight up to the Pearl? Easy enough, and mindful of the parades.

The action around the line is amazing

[alexjon]

Originally Posted by pdxtraveler

With the name and the streetcar it would really be PDX Pearl-esque! But it sure worked great here, didn't it alexjon.

It sure has-- and it really does have a certain flair that would fit well in San Antonio

[chadpcarey]

Alexjon -

Of course, we're in agreement that it can serve as an incredible generator for urban development.

But my point was the operating a streetcar line is not, in and of itself, profitable, in any sense. Very expensive to build, very expensive to operate. It would need to be massively subsidized for a LONG time. Still, I would aruge it's worth pursuing, irrespective of it's "profitibility".

Chad.

[alexjon]

Originally Posted by chadpcarey

Alexjon -

Of course, we're in agreement that it can serve as an incredible generator for urban development.

But my point was the operating a streetcar line is not, in and of itself, profitable, in any sense. Very expensive to build, very expensive to operate. It would need to be massively subsidized for a LONG time. Still, I would aruge it's worth pursuing, irrespective of it's "profitibility".

Chad.

What percentage of transit systems are profitable anyway? Remember, now, that by focusing on that aspect of transit -- the tax and spend of transit development -- you are forgetting the sum of benefits far outweighs what you have in investment.

In the example of Portland, they wanted more people living and working downtown, and to bolster the development of a "new" neighborhood. They've succeeded. The streetcar is a large part of the success of the Pearl District, which, similar to your development(s) is a formerly undesirable area that was rehabbed and made easily accessible to downtown.

And the feds have no problem with it, and with an oregon firm rolling out streetcars in the next few years, it really is a thing to consider.

But then again, this IS what worked for a successful neighborhood development that raked in billions in devel money. You could be angling for something else or on a smaller more basic scale.

[alexjon]

Sorry, that was a little blunt and kinda bitter. Developers in SA never take a risk, and I guess that's what it'll be forever more.

But truthfully, it wouldn't be hard to harness the power of parking rev and various other bits-and-pieces income sources if done in a forward thinking and pro-urban mindset.

[chadpcarey]

Alexjon -

First, I appreciate your passion on this.

To respond to your question, zero percent of transit systems are profitable. I know you were asking it rhetorically, but it's important to remember that this sort of transit (any transit, really) will always be an expense for the city. The tricky part is deciding precisely when an idea like a streetcar becomes a worthwhile expense (in the minds of Bexar Co. & COSA elected leaders). I agree that a streetcar (or some similar mass trans.) would be fantastic for the development of an urban neighborhood north of downtown. But the cost to build & operate said trans. is not something you can simply ignore.

To chide you: it's competely false and irresponsbile to declare that "developers in SA never take a risk". You must know about the projects currently under construction: Ed Cross' "Vistana", Drake Leddy's "Vidorra", and, most importantly, Silver Ventures' Pearl Brewery. This doesn't even include our project, Phillip Allen's "Judson Candy Lofts", Dennis McDaniel's "Steelhouse Lofts", George Mauze's Broadway projects, Lifshutz & Yndo's "St. Benedicts", and whatever Ed Cross ultimately does with Villaje del Rio.

Now I don't want to condescend, but I doubt you have any idea how incredibly risky these projects are. They involve hundreds of thousands of dollars in speculative pursuit costs, and millions of dollars in equity once construction begins. And here's the thing: all the above-referenced developers are taking these massive financial risks to develop projects with virtually no record of success in SA. Oh, and these projects have the additional benefit of being 30%-150% more expensive than typical suburban development.

I hope you'll see the good things that are happening around our urban core as evidence that there are people in the development community that believe in urban development, and are willing to bet (quite literally) their fortunes that, in the end, people will support it.

One more thing: Portland's urban development was caused almost entirely by the Urban Growth Boundary, which is something we will never have in Texas (because of state law). I don't think anyone who's studied Portland would try and assign credit for Portland's success to the streetcar.

What ultimately made Portland's infill development work was thousands of people making the decision to live & work in an urban enviroment. Many San Antonians will be given the chance to make that very same choice over the next 2-3 years, and, like you, I hope they will do so.

Again, I appreciate your passion on this. This city needs more people like you for this to work!

Chad.

[alexjon]

Part of my passion in this is that you're turning dirt in the neighborhood I grew up in.