1MSF Mixed-Use Project Planned for San Antonio
- Mar 28, 2008
Plans are in the works to add a 1 million-square-foot mixed-use development to the upscale Shops at La Cantera in San Antonio. No timeline or dollar amount has been associated with the project yet. The Town Center at La Cantera will be a mixed-use development on approximately 178 acres bounded by The Shops at La Cantera, Interstate 10 and Loop 1604. The Town Center at La Cantera will include approximately 1 million square feet of office, a high-end boutique hotel with spa, upscale retail and approximately 500 residential units, according to the developer, San Antonio-based USAA Real Estate Company. The Town Center will extend eastward from the new Shops at La Cantera in a series of wide streetscapes featuring heavily landscaped boulevards, wide sidewalks and retail storefronts. Above the retail will be three- and four-story residences. Several mid-rise Class A office buildings are in the planning stages for the first section of the Town Center. The project will concentrate a large development volume in a relatively small area both to conserve open space and create a critical mass of employment, shopping and residential space, according to USAA Real Estate. A new boulevard linking the Shops at La Cantera to Interstate 10 will bridge a 25-acre central park and connect to future development on the balance of La Cantera. The Shops at La Cantera opened in fall 2005. The 1.3 million-square-foot open-air center includes retail and dining space, with a total of more than 150 total shops and restaurants,USAA Real Estate Co. has approximately $4 billion of assets under management and provides co-investment, acquisition, build-to-suit and development services for corporate and institutional investors. The firm’s portfolio consists of office, industrial, retail, multi-family and hotel properties as well as investments in real estate operating companies with an annual volume of transactions in excess of $1 billion.