Exciting Developments Coming to San Antonio’s Pearl Neighborhood!
San Antonio is buzzing with news as Oxbow Development Group, a part of Silver Ventures, is set to bring some serious upgrades to the vibrant Tobin Hill neighborhood. With big plans in the works, the local community can look forward to a wave of modern living, dining, and shopping experiences as the company has just received the green light for tax incentives on two major projects.
What’s Happening?
In a recent decision, the Midtown Tax Increment Reinvestment Zone (TIRZ) approved a hefty 10-year tax abatement of 40% for Oxbow’s Coopers Row North and Lewellen apartments, which together represent an investment exceeding $1.4 million. This is big news for local residents, as it indicates that the area is on the cusp of transformation. The development plans aim to deliver 275 residential units. What’s more, the firm has outlined plans to invest as much as $129 million into these multifamily projects, promising enhanced living spaces for the community.
A Broader Vision
Oxbow CEO Bill Shown has a clear vision for the future, emphasizing the importance of connectivity to reunite the neighborhood’s past with its vibrant, urban future. “So much of this is about connectivity,” Shown shared. “Let’s take a neighborhood that was a little bit of a wasteland 10-20 years ago and stitch it back together and make it a vibrant, urban pedestrian place.” This statement encapsulates the heart of Oxbow’s mission: not just to build, but to foster a community where people can live, work, and play.
More Than Just Apartments
But wait, there’s more! Oxbow is also working on their Mira complex, which is parking-centric in nature, perfect for the needs of residents and visitors alike. There’s a hotel planned to rise just across the river from the iconic Hotel Emma, adding more options for tourists and locals to enjoy. Furthermore, Oxbow will be implementing numerous pedestrian improvements around Pearl, making it a more walkable and inviting place for everyone.
Southtown Aldea: A European Touch
The ambitious plans don’t stop at Tobin Hill. Oxbow has recently announced a mixed-use development that will take shape at the former San Antonio Independent School District headquarters, dubbed Southtown Aldea. This initiative is set to feature a three-building residential and commercial space that Director of Development, Omar Gonzalez, has likened to a place that feels “European in scale.” This project promises to add a unique flavor to San Antonio’s already rich architectural landscape.
Community Concerns Addressed
It’s important to note that while the incentives for market-rate developments have raised some eyebrows, both county and TIRZ officials have ultimately decided to support these projects. Their hope is that these developments will attract growth while improving the quality of life for current residents.
In Conclusion
As San Antonio continues to evolve, Oxbow Development Group’s initiatives in the Tobin Hill area offer plenty of exciting prospects for residents and visitors. With improvements for pedestrian access, more housing options, and a mix of commercial spaces, the city is on track for a vibrant transformation that embraces its history while boldly stepping into the future. Stay tuned, San Antonio; this is just the beginning!
