While Southtown is defined by its historical charm and fine dining, the immediate area boasts the most affluent community in San Antonio’s urban core. Southtown is home to several major employers in San Antonio including United Way, Rico’s Nachos, Pioneer Flour Mills, and H-E-B, the 5th largest private company in the United States with 150,000 employees and revenues of over $40B annually. Additionally, dozens of independent law firms, real estate companies, doctors, accountants and white-collar employers call Southtown home.
In addition to receiving support from residents and local businesses alike, the Subject Property benefits from downtown San Antonio, just 0.5 miles north. Within downtown San Antonio, one will find the likes of the Alamo, Riverwalk, Alamodome, Convention Center and Hemisfair Park. Each year the San Antonio Convention Center (0.4 miles from the Subject) hosts over 120 events. This results in an economic impact of nearly $700,000,000 and nearly 900,000 hotel nights booked across 60+ hotels.
The walkability of Southtown together with its attractive setting, charming housing stock, employment back-up and built-in entertainment has spurred an increase in dense housing stock. Since 2011 Southtown and the surrounding neighborhoods have added +3,000 Class “A” apartments to a neighborhood that previously only featured rental homes and boutique apartments. Institutional investors continue to flock to Southtown as well. Oxbow (who developed the Pearl) will deliver Aldea, a 40,000 Sf mixed-use project featuring office, retail and 250 Class “A+” apartments to the market in 2028 (this development sits 900 feet to the north of the Subject Property).
The city of San Antonio is on track to execute on its most ambitious plan to date. With a price tag of +$3 billion, Project Marvel is set to transform the corner of Cesar Chavez and U.S 281. The city, together with private investors, will create an entertainment district complete with a brand-new stadium for the San Antonio Spurs. This site is located 0.5 miles from the Subject and will impact the economics of the city for decades.
Collin Newton
Centro Properties
