The development will include 287 apartments and 36 townhomes, said John Kirk, Embrey’s executive vice president of development. It will be built on 7.5 acres of land that Embrey purchased from Santikos earlier this month on East Sonterra Boulevard, in the middle of one of the fastest-growing parts of San Antonio.
The project will be near the 289-unit Dwell at Legacy complex that Embrey constructed in 2014 and later sold to a company linked to local firm Internacional Realty,
county property records show. Kirk declined to share the sales price.
The land is within the Legacy community that Santikos has been developing for more than a decade at the northeast corner of Loop 1604 and U.S. 281. The community is
already home to about 25,000 square feet of office space and retail tenants such as a Best Buy, a Main Event Entertainment, and a Lifetime Fitness.
More tenants are on the way, including Paul Mitchell the School, a cosmetology and hair cutting school that will host between 150 and 200 students, said Aaron Kinsey, Santikos’ vice president of real estate. “There’s going to be a great uptick in the amount of traffic through the development” with the students coming in, Kinsey said. “We really view that as a game-changer.” A hotel, Home2 Suites, is set to open in the Legacy community this summer, and Santikos still owns four lots totaling about 10 acres that it might fill with more offices or retail, Kinsey said. He expects it to take between three and four years for the entire community to fill up.
John Santikos, the founder of the Santikos theater chain, had the idea to buy the land at the crossing of 1604 and 281, and the first portion of Legacy was built around 2006, Kinsey said. All in all, the community encompasses about 90 acres
“I think John’s vision as a developer, in general, was great, and he would often buy parcels of land in what would become prime locations,” Kinsey said. “You’re at the corner of two major intersections in an extremely rapidly-growing city.” Embrey’s planned complex will feature a higher level of luxury than the Dwell at Legacy community it built in 2014, Kirk said. The townhomes will be three stories and will have two-car garages, eight-foot doors, quartz countertops and high-end
appliances, he said.
He noted that the development’s residents will be able to walk to some of the retail stores in the Legacy community and that the proximity to the intersection of 1604 and 281 will allow them to travel easily to other parts of the city. “We are excited about the opportunity here, and moving forward with it,” Kirk said.
Embrey is known for building luxury apartment complexes in Texas, Arizona, Colorado, and Tennessee. In San Antonio, it has built complexes on the far West
Side and in the area around The Rim. Last week, the company received approval from the city’s Zoning Commission for plans to build a mixed-use complex with 266
apartments and 35,000 square feet of office space on Broadway just north of Alamo Heights.
Last month, Embrey sold its 299-unit Ridgeline at Rogers Ranch apartment complex to Benimax, a company headquartered in Atlanta that is largely led by Chinese executives and gets much of its financing from Chinese investors.
Richard Webner is a San Antonio Express-News staff writer. Read more of his stories here. | email@example.com | Twitter: @RWebner