Casey Development CEO Darren Casey (Casey Development)
De Zavala Ventures is adding to the growing North San Antonio suburbs with a 293-unit apartment complex.
The new complex is being built for an estimated $52 million and will include two separate buildings and an amenities center, according to a filing with the Texas Department of Licensing and Regulation. De Zavala Ventures is a part of Casey Development, an investment firm that funds residential and commercial real estate projects across Texas.
The new apartments, called Tacara at Stuebing Heights, will be in the suburbs of North San Antonio, just two miles south of the University of Texas at San Antonio campus.
Construction on the 225,000-square-foot project is expected to start in Feb. 2023 and last until March 2025. Neither construction cost estimates nor expected lease rates were disclosed by De Zavala Ventures in the filing.
According to Casey Development, the company is looking to build over 1,200 residential units across the San Antonio area in the coming years.
In 2022, San Antonio was ranked as one of the fastest growing cities in the country in terms of population growth, according to data from the U.S. Census Bureau. The city’s population increased by nearly 2 percent between 2021 and 2022, a higher rate than in Austin or Dallas, establishing it as an enticing market for real estate investment.
Companies such as Valero Energy, USAA, Tesoro Energy, NuStar, iHeart Media, H-E-B and SWBC all base their corporate headquarters in San Antonio.
Casey Development’s website claims that San Antonio has arguably the best growth potential in Texas and nearly 200,000 jobs could be added to the city’s economy by the end of 2023. The company is currently focusing on projects in San Antonio, Austin and San Marcos.
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