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Austin developer's 10-story mixed-use tower set to rise next year

An Austin-based developer is moving along with its first endeavor in San Antonio at a property immediately adjacent to Pearl.

Sabot Development is planning Mira, a mixed-use project at the corner of Euclid Avenue and Locust Street with 299 apartment units; 11,660 square feet of retail and commercial space; and 426 parking spaces as well as a rooftop deck.

"We hope to host local businesses to events at the rooftop with our residents and guests," said Jim Young, managing partner for Sabot. "Having joined the military from San Antonio, I had the opportunity to travel the world and wanted to bring a rooftop experience as I’d seen in places around the world like Chicago and NYC."

The property will feature a rooftop amenity deck with views of the Pearl area and downtown.

Floor plans will include efficiencies, one-, two- and three-bedroom units to be leased at the market rate, according to Young. He said he wants the community to be home to local residents such as entrepreneurs, tech employees, athletes, and military staff.

The project team includes architectural firm Gensler, KFW Engineers + Surveying, general contractor Cadence McShane Construction and Austin-based Roscoe Property Management.

The San Antonio Historic and Design Review Commission has granted final approval to the design. Construction is anticipated to begin in January 2022, with completion by the first quarter of 2024.

Sabot has worked on several projects in the Austin area, including Cheatham Street Flats, a 157-unit apartment project in San Marcos, and the Aloft Hotel in South Austin.

The project is one of several residential developments set to shape the area surrounding Pearl. Silver Ventures, the development group behind Pearl, has been preparing to build an $87 million apartment complex at 1126 E. Elmira St.

Other third-party developers have also taken notice of the demand for housing around the complex. Local development group The Lynd Co. also has proposed apartments at 120 Josephine St. Embrey Partners is under construction on apartments at the former site of a self-storage facility along U.S. 281 alongside the redevelopment of the former Borden creamery property.