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