Set to be completed in spring 2024, the high-rise residential structure in downtown San Antonio will be taller than the 24-story Frost Tower.
broke ground Thursday for a soaring residential tower in the heart of the downtown business district.
Already, construction teams and heavy equipment are at work on the narrow 1-acre parcel of land formerly used as a parking lot. The terms of the incentives agreement call for the developer to contribute almost $2.2 million to the Affordable Housing Fund.“Investments we all know in downtown are a vote of confidence in our entire city and the growing demand for living space in the city’s core speaks volumes about the high quality of downtown living that we expect in our city,” he said.
“And, honestly, while the world is awash in capital, San Antonio is not,” he said. Such projects are not easy to finance at a time when there are many other cities further along in their development and more attractive to investors.
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