With excitement building for the annual Bisnow San Antonio multifamily development event at the St. Anthony March 8, we asked Hemisfair Park Area Redevelopment Corp CEO Andres Andujar about the future of the Hemisfair District, one of the most buzzworthy projects in the city.
Andres says the project will bring three urban parks and 2,000 residential units, and re-brand Hemisfair into a true urban park district. The first step of the development, Yanaguana Garden, was completed in October 2015 and has already hosted more than 150,000 visitors. (Andres is pictured here at its opening ceremony.)
2016 has already provided a pivotal milestone for Hemisfair, with approval of its first public/private partnership with local developer AREA Real Estate, offering the first opportunity to live within Hemisfair in half a century. AREA will break ground on the Acequia Lofts in spring 2017, and open in early 2018. Andres tells us providing quality rental housing stock with greater variance in pricing to young professionals, families and an influx of Baby Boomers is integral in answering the huge demand for rental properties.
Andres also addressed one of the biggest issues associated with urban development, promising to be bullish on parking and ensuring there will be accessible, affordable and well-maintained options. (For that, he's a superhero in our eyes!)
Hemisfair's next phase: a small civic park is slated for completion in 2018 in time for the city’s tricentennial celebration and the NCAA Final Four. Looking ahead, the development calls for developments along Alamo and Market streets (fall 2018), completion of Civic Park (New Year’s Eve 2018), grand opening of the Northwest quadrant (2020), and Tower Park and adjacent developments in the Eastern quadrant (2020 and beyond).
Don't miss our San Antonio multifamily event to learn even more! Register here.
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