McCombs plans to develop 145 acres of empty land on far West Side
McCombs Enterprises wants to partner with other developers to build 60 acres of retail and three apartment complexes with about 350 units each on 145 acres of land near SeaWorld San Antonio.
McCombs Enterprises plans to fill 145 acres of vacant land along Loop 1604 near SeaWorld San Antonio with apartments and retail, adding to the far West Side’s roaring growth.
The local firm wants to partner with other developers to build 60 acres of retail and three apartment complexes with about 350 units each on the property, at the northwest corner of 1604 and Military Drive, said Harry Adams, its executive vice president of real estate and development.
Construction is set to begin in the next year, Adams said; how long it will last depends on future market trends. McCombs isn’t sure yet how it will finance the project, he said.
“The far west market is by far the best situated for substantial development and growth,” Adams said, citing the area’s growing infrastructure and large swathes of undeveloped land.
McCombs, the real estate firm headed by billionaire B.J. “Red” McCombs, has owned the 145 acres since 2005, property records show. The firm decided to start developing it when the Texas Department of Transportation broke ground on an expansion of 1604 into a highway along the property, Adams said. Work on the highway is expected to wrap up in the next two years, he said.
To read the full story, click here on ExpressNews.com or turn to Thursday’s Business section.
RWebner@express-news.net @rwebner
Comments
Post a Comment