The Neue will be a four-story mixed-use condominium development located at 699 W. San Antonio St. in New Braunfels, which aims to further the city’s comprehensive strategic plan, Envision New Braunfels, as previously reported by Community Impact.
The update
Costs include the development of the project and public infrastructure improvements. The improvements will be along Guenther Avenue and San Antonio Street, and include sidewalk, drainage and utility improvements and Americans with Disabilities Act-compliant enhancements, Deputy City Manager Jordan Matney said in the presentation to City Council.
The New Braunfels Economic Development Corp., or NBEDC, plans to use the development of The Neue as a way to fulfill other policy objectives, such as walkability, connectivity and the expansion of underground utilities, Matney said.
Funding for the project will come from NBEDC ‘s purse, funded primarily by a portion of sales tax. Of the full amount, $700,000 will be awarded to developers Seals Family Properties and Gillum Development as right-of-way and utility projects are completed. The remaining $1.5 million will be paid after a certificate of occupancy is given to the property, according to the presentation.
The details
The expenditure was a recommendation from NBEDC after a meeting held Sept. 30. Developers with Seals Family Properties and Gillum Development were looking for financial support to fund on- and off-site infrastructure costs, initially listed for $2 million, as previously reported by Community Impact.
The Neue will act as a catalyst for future projects in downtown, which the city hopes will kickstart further redevelopment of the area.
“This is a first in the market for us, and we think it will be the first of many and a true public-private partnership to move forward successful redevelopment in our downtown,” Matney said.
Despite being heralded as a catalyst, The Neue is the last building in the Downtown Tax Increment Reinvestment Zone, or TIRZ, to be completed, according to the city.
The Downtown TIRZ was formed in 2021 to capture 85% of sales tax in an area encompassing downtown New Braunfels to help fund walkability and connectivity projects, according to the city’s website.
What they’re saying
A dozen community members spoke during public comment. One New Braunfels resident, Julie King, called The Neue a “luxury project” that would not entice families to live in the downtown area.
“If we had all these out-of-town developers pay 100% of the infrastructure costs to bring utilities downtown, why is this luxury project, in my opinion, getting special treatment?” King said.
Keith Dalton, another New Braunfels resident and CEO of KDW, a design-builder in the city, said it is a great project to kickstart other development in the downtown area.
“As you start to develop momentum and you’re developing downtown, other private development will take hold, and they'll take advantage of what you recruited in the very beginning, and ultimately, you'll create a demand where you may not have to provide such partnerships in the future because you create a momentum that other people are going to join in," Dalton said.
The project
The $27 million, 72,000-square-foot project is expected to break ground in early 2026. Construction is estimated to be completed in fall 2027. The Neue is anticipated to house 43 owner-occupied condos, including one- to three-bedroom floor plans. It will also feature professional office spaces totaling 3,300 square feet of professional, and retail spaces totaling 2,000 square feet, as previously reported by Community Impact.
