Development
San Antonio
McCombs plans $295M development near San Anotnio’s Pearl District
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McCombs plans 50-acre commercial development on South Side
Joins several other high-profile developments from the family office
McCombs Enterprises is planning yet another large-scale project in San Antonio.
The family office of Red McCombs applied for a subdivision called Redwest Commercial 2, the San Antonio Business Journal reported. While details are sparse, the application covers 50 acres currently zoned for business parks.
The plot lies off Interstate 410 and Old Pearsall Road near Medio Creek Elementary School. The area southwest of downtown is one of San Antonio’s fastest-growing regions.
A master plan from 2017 for a project by the same name showed a commercial development covering 50 acres of a larger 65-acre plot. The commercial portion would span the southern and eastern portions of the plot, while the remaining 15 acres would be used for multifamily.
San Antonio’s multifamily market has dropped considerably from its pandemic-era heights. A wave of new supply has greatly decreased landlords’ ability to raise rents, while lenders have pulled back significantly from Sun Belt and Texas multifamily construction financing.
McCombs recently applied for permits to continue building out its Gateway10 industrial project, which will eventually be a 1.3 million-square-foot campus with warehouses, retail and commercial developments. The company did not reply to the Business Journal’s request for comment.
Closer to the city center, McCombs is working on a $295 million mixed-use development along the River Walk. The company plans to redevelop six acres with Denver-based McWhinney into what it calls Jones Avenue at Museum Reach. The project will lie near the Pearl and be made up of two apartment buildings with 325 units, a 70,000-square-foot office building and a 146-key hotel.
Red McCombs, who died in February 2023, founded Red McCombs Automotive Group and later co-founded Clear Channel Communications. He went on to build business after business, and was the first owner of the San Antonio Spurs.
—Joe Lovinger
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