A proposed $100 million mixed-use project anchored by hundreds of apartments is brewing near San Antonio’s popular Pearl District.
San Antonio native Jim Young, managing partner of Austin-based Sabot Development Ltd., says the 10-story project will feature 325 apartments, 14,000 square feet of restaurants and retail, and 400 parking spaces. At this point, construction is scheduled to start in early 2021 and be completed in 2023.
Young’s company still needs to gain rezoning approval for the 1.5-acre site from the San Antonio City Council. Sabot is expected to close on the land purchase this year, Young says.
The Tobin Hill property is bordered by East Euclid Avenue, East Myrtle Street, East Elmira Street, and East Locust Street. Structures that house a construction company, a coworking space, a flea market warehouse, a production company, a real estate brokerage, and Pinky’s Shaved Ice will be torn down to make way for the project.
Young says the mixed-use development, called Myrtle at Elmira, will appeal to everyone from millennials to retirees who covet easy access to the Pearl district, including Hotel Emma, and the River Walk. Sabot Development has engaged with the Tobin Hill Neighborhood Community Association, the city’s Historic and Design Review Commission, and other stakeholders to secure support for the project.
“The opportunity to be part of the redevelopment of an industrial area into a vibrant, mixed-use district is a dream come true,” Young tells CultureMap.
Sabot Development hasn’t yet hired a general contractor for the project. The San Antonio office of architecture firm Gensler has been tapped for design work, with San Antonio civil engineering firm KFW Engineers & Surveying and San Antonio project management firm Project Control of Texas also on board, Young says.