SAN ANTONIO │ The Pearl | News and Development

[bosshaa5]

Originally Posted by Keep-SA-Lame

Either this is really good news or really bad news. It would be really good news if investors indeed are dying to get a piece of the Pearl, and the pace of development might quicken if there's more capital available. Or it could be really bad news if Silver Ventures has no capital to invest and there aren't any investors interested in new projects, which would bring development on their remaining land to a total halt. Though it sounds like they're also trying to raise money by selling off shares of existing buildings as well, so surely they can raise at least some capital.

Personally, I don't think it's bad news. More like the reality of the real estate game. The revenue Silver Ventures is generating from their properties is probably not coming in fast enough to fund all their upcoming projects. Makes sense as real estate investments are pretty long term.

Also, it's probably just sound business practice to get more wallets involved. More people invested in the well-being of an area.

[Keep-SA-Lame]

Yeah I agree it's most likely good news, but you never know, especially with the new CRE investment climate. But the Pearl does have a really strong brand so they'll hopefully have more investors than they know what to do with.

[CWalk99]

There appears to be no actual documents pertaining to this yet but there is a HDRC case at 1301 E. Elmira which calls for a "6-story mixed use structure". This was the old site for the 10-story Mira that got sold to Oxbow.
Should have renderings in next couple weeks

[Rynetwo]

A partnership between two out-of-town developers is moving forward on hotel plans in Government Hill....

The Business Journal reported in December that the two firms went public with the plans to place a Residence Inn by Marriott at the site last year. Up until recently, GrayStreet had owned the land and worked to have it rezoned for infill development, allowing for a hotel building taller than 35 feet....

The project appears to be part of GrayStreet and Fulcrum Development's "BESA District" plans, the new name for the anticipated Broadway East 15-acre mixed-use district....

Construction is expected to start in Q3 2024, according to Merritt's website. Omaha, Neb.-based DLR Group is leading the project's design. Concord Hospitality Group has signed on to operate the space.

https://www.bizjournals.com/sananton...ment-hill.html

As for the highlighted portion, has any other proposal been put forward regarding BESA?

[aggie2008]

Originally Posted by Rynetwo

https://www.bizjournals.com/sananton...ment-hill.html

As for the highlighted portion, has any other proposal been put forward regarding BESA?

The historic school building has had its windows taken out and it looks like its getting asbestos removed. Not sure what they are planning for it though.

Honestly I kind of hope the area gets sold off in parts. I REALLY disliked the plan they released.