Hemisfair Park

New 29-story residential tower coming to San Antonio's Hemisfair Park

Hemisfair Park is growing, growing, growing.

Courtesy of Hemisfair

Hemisfair Park is growing, growing, growing. Hot on the heels of a recent hotel announcement, slated for 2025, and under the same $340 million redevelopment plan approved earlier this year, the City of San Antonio Historic and Design Review Commission (HDRC) released sneak peeks of a 29-story residential tower and three-story retail building coming soon to the area.

Proposed by Post Lake Capital Partners in a public/private partnership (P3s) with the Hemisfair Park Area Redevelopment Corporation (HPARC), the new tower will land on Market Street, situated on roughly 2.14 acres and steps from downtown San Antonio attractions. Post Lake Capital Partners will develop the property in conjunction with FitzGerald Associates Architects.

“Residential development in the Hemisfair District is key as we prepare for San Antonio’s population growth,” said Andres Andujar, Hemisfair CEO, in a release. “We are replacing the density of the population that lived in the District before HemisFair ’68 to bring back the neighborhood and the vitality that comes from people living next to open spaces. Neighbors use the park daily and bring a sense of security to the area.”

With sweeping views of the San Antonio skyline, the 29-story residential tower will feature a mix of studio, two-bedroom, and three-bedroom apartments, as well as an amenities deck and parking for residents and the public. The second building will become one of the largest retail concentrations in downtown San Antonio, connecting Civic Park to the River Walk and the Henry B. Gonzalez Convention Center.

“We need to increase residential density in our downtown and we need boots on the ground to improve and create that neighborhood that we want,” Lori Houston, assistant manager of the City of San Antonio said in the release. “The great thing about Hemisfair is that we had time and patience, and we’ve been planning and executing for a decade.”

Construction of the mixed-use property is expected to begin in early 2023, with a goal to open the ground-floor retail spaces of each property in time for the 2025 NCAA Men’s Final Four.

Revitalization of the area started in 2015 with the Yanaguana Garden, which has since welcomed over 3.7 million visitors, the majority of whom are San Antonio locals. Civic Park is currently under construction, slated to open in early 2023 as part of the next revitalization phase to make the area an urban destination for locals and visitors alike.

“We are grateful to the City of San Antonio and our private partners for joining in the vision to create one of the ‘World’s Great Public Places,’” said Andres Andujar, Hemisfair CEO, in the release.

hemisfair development hemisfair

bang for your buck

San Antonio ZIP code is 4th most affordable place for renters in U.S.

Photo by Florian Schmid on Unsplash

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Trying to afford buying a home in San Antonio is difficult enough with current mortgage rates, and doubly so if you're already paying high rent on an apartment or a house. But there are six San Antonio ZIP codes where renters can get the most bang for their buck, according to a new study by financial services company CashNetUSA.

To find the most affordable ZIP codes for renters in the U.S., analysts compared median household incomes by ZIP code to the average annual rent costs in those areas using the Zillow Observed Rent Index. ZIP codes where the average annual rental constituted the lowest percentage of median household income were considered the "most affordable."

San Antonio's 78248 ZIP code specifically stood out as the No. 4 most affordable in the country, and the No. 1 most affordable in Texas. This area encompasses the north San Antonio neighborhoods of Inwood, Forests at Inwood, Oakwood, The Park at Deerfield, Canyon Creek Bluffs, Canyon Creek Village, Blanco Village, Deerfield, Cadillac Drive, and Churchill Estates.

According to the study's findings, the average monthly cost of a rental in 78248 comes out to $1,259.17, and the median annual income of a household in the area is $122,986. Analysts then calculated that the annual rent of a home in this ZIP code only takes up 12.29 percent of a household's median income, which is the fourth-lowest in the nation.

CashNetUSA found the No. 1 most affordable ZIP code for renters nationwide is 66224 in Leawood, Kansas, where annual rent only takes a 10.57 percent cut out of a household's median annual income.

Elsewhere in Texas, two Houston-area ZIP codes – 77401 and 77094 – ranked No. 9 and No. 12 nationally, while Allen's 75013 ZIP code fell two spots behind to claim the No. 14 spot.

The most affordable San Antonio-area ZIP codes for renters
CashNetUSA further unveiled the five most affordable ZIP codes across major U.S. cities, including in San Antonio, Austin, and Houston.

Following 78248 (which took the No. 1 spot citywide) is 78261 (No. 2), which spans east of Highway 281, across Smithson Valley Road. Rent costs in this ZIP code averaged out to $1,698 per month, the report found.

Landing in the No. 3 spot is 78258, which includes Rogers Ranch, The Vineyard, Stone Oak, Summit, Hidden Canyon, and Big Springs neighborhoods. The report said average rent in the area comes out to $1,507 per month, which takes up 17.54 percent of a household's median annual income.

The remaining top two most affordable ZIP codes for San Antonio renters are located in 78259 (Encino Park, Encino Ranch, Cavalo Creek Estates, Northwood Hills, Summit at Bulverde Creek, Roseheart, Redland Woods) and 78260 in Timberwood Park, which is about 25 miles north of downtown San Antonio.

rent rent prices affordable housing