Prolific local developer Weston Urban expects to break ground this summer on a $150 million multifamily project in San Antonio.
The firm will begin construction in July at 110 South Laredo Street with plans for a 16-story, 290-unit project, the San Antonio Business Journal reported. That works out to about $517,000 per unit, though plans are subject to change.
The 415,000-square-foot building will have 331 parking spaces and 7,500 square feet for amenities and a leasing office. Minneapolis-based BKV group is at the helm of construction, which is set to be completed in August 2024, and leasing should start by July 2025.
The project also includes 322 West Commerce Street — the former site of the old Continental Hotel, which Weston Urban plans to renovate.
Weston Urban bought the property, nestled between the existing Continental Hotel and the Arana building, from the city for $4.7 million in 2020. The Historic Design & Review Commission approved the firm’s plan in August, clearing the way for the developer to begin the project.
Weston Urban has acquired over 22 acres of property in downtown San Antonio since its formation in 2012. In recent years, the firm’s investments have largely centered around the expansion of the University of Texas at San Antonio’s campus, anticipating increased demand for housing among students, faculty and staff.
“Our bullishness on that stretch of downtown has only been amplified by UTSA,” Weston Urban co-founder and CEO Randy Smith told the outlet in February.
Weston Urban recently took control of an entire 4-acre block nearby, bounded by Dolorosa streets, South San Saba, West Nueva and South Santa Rosa Avenue. The firm is also part of a group that bought the San Antonio Missions baseball team last year and is in the process of finding a new game-day site for the team.
—Quinn Donoghue
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