The San Antonio Historic and Design Review Commission on Oct. 19 approved a conceptual design of a 29-story residential tower and a three-story retail building proposed by Post Lake Capital Partners in a public-private partnership with the Hemisfair Park Area Redevelopment Corp.
According to a news release, HPARC entered a long-term ground lease with Post Lake, a private equity real estate firm, to develop the property based on Hemisfair’s master plan.
The residential high-rise will feature studio, two-, and three-bedroom apartments; an amenities deck; and parking for residents and the public.
The smaller building will offer a variety of retail space opportunities and have direct connection with the under-development Civic Park in Hemisfair and the neighboring Henry B. Gonzalez Convention Center, the release said.
The release said construction of the mixed-use property is expected to begin next spring. The retail spaces located on the ground floor of each property are proposed for opening to the public by 2025 in time for the NCAA Men’s Final Four, which will be played at the Alamodome.
Assistant City Manager Lori Houston said the new residential and commercial spaces will help to increase density in downtown San Antonio, and both properties will fit in well with the Hemisfair redevelopment.
“The great thing about Hemisfair is that we had time and patience, and we’ve been planning and executing for a decade,” Houston said.
HPARC Chief Executive Officer Andres Andujar said residential development in the Hemisfair district is key toward helping to accommodate San Antonio’s continued population growth with more residential and commercial spaces in downtown.
“We are replacing the density of the population that lived in the district before HemisFair 1968 to bring back the neighborhood and the vitality that comes from people living next to open spaces. Neighbors use the park daily and bring a sense of security to the area,” Andujar said.