San Antonio-based Koontz Corp. on Nov. 16 announced the beginning of construction on The Savoy Apartments, a 300-unit multifamily community at 12631 Vance Jackson Road, on the site of the former Regal Fiesta Trails movie theater.

Situated on 10.36 rezoned acres, the four-story, 267,000-square-foot Savoy Apartments community will offer one- and two-bedroom residences with various amenities, such as two swimming pools, two large courtyards, and a dog park, according to a news release.

Koontz President and Chief Executive Officer Bart Koontz said his company is excited to break ground on a high-quality multifamily residential development along the I-10 corridor not far from Shavano Park.

The project site, the release said, is at a high-traffic regional intersection near The University of Texas at San Antonio, Fiesta Texas, South Texas Medical Center and the Fiesta Trails shopping center.

“Due to The Savoy’s ideal location and ample nearby retail and restaurant choices, introducing this residential project essentially makes it the kind of mixed-use development that is in high demand and will have strong appeal for young professionals,” Koontz said in a statement.

The release said Koontz Corp. is serving as developer and general contractor and is partnering with Garcia + Associates Architect and Pape-Dawson Engineers Inc. for the development, which is expected to be completed sometime in late 2024.

The Savoy Apartments community will bring the total number of multifamily projects in Koontz’s portfolio to 22 for a total of 5,732 units comprising about 6.01 million square feet. In addition to multifamily units, the scope of Koontz’s properties includes office, medical office, industrial/flex and retail, the release said.