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Bucking the Trend: New Development in downtown San Antonio Takes Off

Posted by Richard Soto on Tuesday, February 17th, 2009 at 10:05pm.

Life in downtown San Antonio is taking off as other cities are cooling off. Up until a couple of years ago, downtown and central city living options in San Antonio were limited, according to any standards.

Urban Living Renewal in San Antonio

However, several hundred new resident units, which are due to open in the upcoming year, are set to lead the way to a new, urban community in San Antonio. As long as developers begin to realize that starting a new project in San Antonio is a lucrative decision, downtown San Antonio real estate is expected to thrive.

Residential Construction d

Downtown San Antonio Street Corner by RUKnight.

ue to Explode

Many analysts are predicting that, between 2007 and 2015, there will be a demand for as many as 2,000 new apartments and 2,000 new condos in the downtown San Antonio area. Many San Antonio residents are discovering the many perks of urban living, such as less time commuting, efficient living spaces and easy access to cultural events and city living. Another reason for the influx of city residents in the upcoming years may be due to the increase in military personnel (as much as 12,000) expected at Fort Sam Houston.

New Developments Underway

A fine example of the recent San Antonio development is the 66-unit St Benedict's in the King William Historical District, which is experiencing a surge in pre-sales. The developer expects to have 40 to 50 percent of the loft condos sold when the project is completed in early spring.

photo by RUKnight In addition to the boom in downtown development, other areas of San Antonio are beginning to take shape, as well, including both north and south of the San Antonio River. Another popular development which has created much attention in the area is The Broadway Condos, which are located at the corner of Hildebrand Avenue and Broadway. These condos are due to be completed shortly, but the interior finishes mean that residents may not be able to begin moving into the units until well into next year. Out of the building's 92 condos, about a third of them have already been sold.

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