[Urbannizer]

Project: Hemisfair Development

City Council unanimously approved a public-private partnership Thursday that will allow for a $200 million development on five acres at Hemisfair.

A Zachry Hospitality affiliate company will sublease the land from Hemisfair Park Area Redevelopment Corporation (HPARC) and build a hotel, office building, parking, and retail space on the northwest corner of what will become the nine-acre Civic Park. City Council also authorized a tax increment reinvestment zone for the Hemisfair district that will allow the nonprofit government corporation to collect increased taxes in the area for programming and maintenance for the second largest urban park in San Antonio.

“Improving downtown is part of that big picture to address workforce development and housing opportunities,” said Mayor Ivy Taylor before Council’s vote. “In order for us to be a competitive city, we have to have a competitive downtown and the Hemisfair project is an amazing opportunity for us to continue the momentum we have seen in our city.”

The NRP Group, a multifamily housing developer, also has plans for the park’s northwest corner, where it will build a 380-unit apartment building. According to an agreement with HPARC, 10% of those units will be relatively affordable, workforce housing. The other 163 residential-unit project in the southeast quadrant by AREA Real Estate will have 50% workforce housing.

https://therivardreport.com/hotel-of...fair-district/