SAN ANTONIO | Urban Core Development Thread

[21bl0wed]

Originally Posted by sirkingwilliam

The due diligence done has probably warranted these prices. Developers just don't throw a number out hoping it works. If these sale, and they will, this will welcome even more for sale units. Possibly in mid rise and high rise form.

Remember, Silver Ventures, the firm behind the Pearl, has a lot of land yet to develop both west of the River and east of 281.

How'd that work out for the second Vidorra tower? And how'd that work out for Alteza ?

[sirkingwilliam]

Originally Posted by 21bl0wed

How'd that work out for the second Vidorra tower? And how'd that work out for Alteza ?

Considering they couldn't foresee the 2008 financial collapse, I'd say it's worked out well. Wouldn't you?

P.s.

Tone the snarky down.

[kornbread]

Originally Posted by 21bl0wed

How'd that work out for the second Vidorra tower? And how'd that work out for Alteza ?

Obviously this is a different type of project. The units that were difficult to move were in a tower, and the economy went south.

The townhomes actually went quickly in Vidorra. A second tower never came into play of course, and the Alteeza units were at the high end. The Pearl location is not on the near eastside, it's become well established, and if you look at what residences are going for in the area those prices are not that outlandish.

Does it mean they'll fly? No, of course there is some risk involved. Others will be watching to see how the market responds. If I'm not mistaken, the condos just off Broadway (casa blanca) are doing well. They're cheaper, but the property and location are different. It probably had some influence on this project going forward.

I am surprised the car wash market nearby never got off the ground, but that is all retail and retail has been kind of slow.

[21bl0wed]

Originally Posted by kornbread

Obviously this is a different type of project. The units that were difficult to move were in a tower, and the economy went south.

The townhomes actually went quickly in Vidorra. A second tower never came into play of course, and the Alteeza units were at the high end. The Pearl location is not on the near eastside, it's become well established, and if you look at what residences are going for in the area those prices are not that outlandish.

Does it mean they'll fly? No, of course there is some risk involved. Others will be watching to see how the market responds. If I'm not mistaken, the condos just off Broadway (casa blanca) are doing well. They're cheaper, but the property and location are different. It probably had some influence on this project going forward.

I am surprised the car wash market nearby never got off the ground, but that is all retail and retail has been kind of slow.

Alteza units are priced at 300k right now. There's even a commercial, that's never a good sign. But you are right they are different types of developments.

[sirkingwilliam]

Originally Posted by 21bl0wed

Alteza units are priced at 300k right now. There's even a commercial, that's never a good sign. But you are right they are different types of developments.

Even though this poster is now banned, not by me I assure you, I will address this comment so people hear both sides of this argument.

This particular development sold their two most expensive units (both over a million) within the the last year. That's a great sign. A commercial, that whenever even seen btw, is definitely not a "bad sign" as he put it.

[Rynetwo]

Banned?

Anyway time will tell the story about that price. IMO they will sell a few and the rest will sit for awhile.

[sirkingwilliam]

Originally Posted by Rynetwo

Banned?

Anyway time will tell the story about that price. IMO they will sell a few and the rest will sit for awhile.

Yes. Not sure what he did, but whatever it was, got him a ban from the administrators.

[Sigaven]

Originally Posted by sirkingwilliam

BEFORE


AFTER

So they're getting rid of the fountain/grand staircase that goes up and around it?

[sirkingwilliam]

Originally Posted by Sigaven

So they're getting rid of the fountain/grand staircase that goes up and around it?

Yes, they're building a 20,000 square foot media room underneath that area.

[The Model]

Finally a nice morning to update Convention Center construction!

[KevinFromTexas]

http://www.bizjournals.com/austin/bl...ts-in-our.html

See Texas' boldest construction projects in our inaugural Super Structures publication
Dec 12, 2014, 2:35pm CST

Heather Ladage, Tracy Merzi, John Beddow and Jimmy Holmes, Publishers of the Texas Business Journals

Texas is growing — more business, more people, more opportunity — and that means a lot more construction.

There's so much commercial construction, in fact, it's hard to keep track of, which is why the Texas Business Journals came together to create this inaugural edition of Super Structures. Profiled in this special subscriber content publication are the biggest or most significant construction projects underway in each of Texas' largest cities.

We included everything from office towers rising in our downtowns to master-planned communities pushing the borders of our regions.

[kornbread]

I thought that list would surely include the convention center expansion and maybe the San Pedro creek project. There were some real duds on that list.

[JoninATX]

Upscale Downtown Living at the Rivera

They have snapped some of the progress at 1130 Broadway




http://www.bigreddog.com/upscale-dow...at-the-rivera/

It's great to see them putting retail on the ground floor.

[JACKinBeantown]

Originally Posted by JoninATX

It's great to see them putting retail on the ground floor.

Absolutely.

[UrbanTrance]

I wonder what this suggests about the condo market?

Steel House units to become condos

[GoldenBoot]

Originally Posted by Alice93

I wonder what this suggests about the condo market?

Steel House units to become condos

It is definitely improving. The developer finally sees enough positive growth to see his original vision through (i.e., for-sale lofts).

[Restless 1]

It'll be interesting to see how fast they get sales, considering the prices.

Also, look for a slow down in the Eagleford. I work for a service company to the oilfield, and we are guessing most businesses will cut spending next fiscal year by up to 30%.

If companies start laying off...

[Runner]

Originally Posted by Restless 1

It'll be interesting to see how fast they get sales, considering the prices.

Also, look for a slow down in the Eagleford. I work for a service company to the oilfield, and we are guessing most businesses will cut spending next fiscal year by up to 30%.

If companies start laying off...

Eagleford is not going to slow down. It will be thriving For at least the next 20 years.

[Keep-SA-Lame]

Originally Posted by Runner

Eagleford is not going to slow down. It will be thriving For at least the next 20 years.

Not with oil at half the price it was this summer.

[sirkingwilliam]

Originally Posted by Keep-SA-Lame

Not with oil at half the price it was this summer.

It's exactly because of the shale that gas is so low. The shale will be in play for another 20 years and there will be ebbs and flows.