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The company behind several multifamily developments in San Antonio is laying the groundwork for a couple of new luxury apartment communities.
Locally based Embrey Partners Ltd. recently inked a contract to purchase a little over 18 acres of land between Blanco and Huebner roads on the city's North Side. The firm also has signed a contract to purchase some 12 acres off of Interstate Highway 10 in Northwest San Antonio. Both sites will be used to develop new luxury apartment projects, Embrey officials say.
Meanwhile, work continues on The Heritage, a new multifamily community being developed by Embrey on the Northeast Side.
The 305-unit Heritage will be located near the intersection of Interstate 35 and Pat Booker Road in the city of Live Oak. The first units, as well as the clubhouse, are set to open this summer, according to Embrey senior partner Dennis Elmore.
Elmore estimates that development costs for each of the new communities will be upwards of $20 million.
Planning ahead
In total, the three projects are poised to add more than 900 units to the Alamo City's multifamily market over the next 18 months.
Embrey expects to close on the purchase...