fbpx

Hemisfair’s Mixed-Use Tower to Help Regenerate Population Density in the District HDRC Approved Plans for 29-Story Residential Tower

posted by on

HDRC Approved Plans for 29-Story Residential Tower in Northwest Hemisfair District

SAN ANTONIO (October 19, 2022) – The City of San Antonio Historic and Design Review Commission (HDRC) has approved the conceptual design of a 29-story residential tower and a three-story retail building proposed by Post Lake Capital Partners in a Public/Private Partnership (P3s) with the Hemisfair Park Area Redevelopment Corporation(HPARC).

Located on Market Street within the Hemisfair district, HPARC entered a long-term ground lease with Post Lake Capital Partners, a boutique private equity real estate firm, to develop the property based on Hemisfair’s master plan. The project, thoughtfully created by FitzGerald Associates Architects,is situated on roughly 2.14 acres, steps from downtown San Antonio’s key cultural assets including the Henry B. Gonzalez Convention Center, La Villita, The Alamo, the River Walk, and Hemisfair’s Civic Park.

“Residential development in the Hemisfair District is key as we prepare for San Antonio’s population growth,” said Andres Andujar, Hemisfair CEO. “We are replacing the density of the population that lived in the District before HemisFair ’68 to bring back the neighborhood and the vitality that comes from people living next to open spaces. Neighbors use the park daily and bring a sense of security to the area.”

Located on the largest developable property in the northwest zone of the Hemisfair District, the taller of two proposed buildings facing Market Street will have sweeping views of downtown San Antonio. The building will be home to studio, two, and three-bedroom apartments, an amenities deck, and more parking for residents and the public.

The second building will be three stories, offering one of the largest retail concentrations in downtown San Antonio. With a unique location along the River Walk, directly connected to the Civic Park and the Henry B. Gonzalez Convention Center, tourists and locals will have the opportunity to experience the area in a new way.

“We need to increase residential density in our downtown and we need boots on the ground to improve and create that neighborhood that we want,” Lori Houston, assistant manager of The City of San Antonio said. “The great thing about Hemisfair is that we had time and patience, and we’ve been planning and executing for a decade.”

Construction of the mixed-use property is expected to begin next spring, with the goal of opening the retail spaces located on the ground floor of each property by 2025 for the NCAA Men’s Final Four.

The first phase of the revitalization of Hemisfair began in 2015 with Yanaguana Garden – 4.1 acres of thriving landscaping, towering arbors, plenty of shaded seating, adaptive play equipment, a sand play area, and the Union Pacific Railroad Splash Pad. Since opening, 3.7 million people have visited – 84 percent of whom are locals. Adjacent to Yanaguana Garden, HPARC executed its first P3 for the development of a mixed-income and mixed-use residential tower known as The ’68 Apartments.

Paid for by the 2022 Municipal Bond and philanthropic investment delivered by the Hemisfair Conservancy, Civic Park at Hemisfair is currently under construction, and its first phase is expected to open mid-2023. It will feature an event lawn with a capacity for more than 10,000 people; The Springs, an acre of beautiful water features; and a connecting promenade that will link Civic Park to Yanaguana Garden. The park will offer enriching and captivating experiences while becoming a catalyst for economic growth, resulting in a vibrant urban destination for visitors and locals alike.

“We are grateful to the City of San Antonio and our private partners for joining in the vision to create one of the ‘World’s Great Public Places,’” said Andres Andujar, Hemisfair CEO.

Link to graphics