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San Antonio: Apartment Developer Proposes Five-Story Building on San Pedro Avenue

Feature Illustration: Concept rendering of the Four25 San Pedro apartment building, as it would appear looking south on San Pedro Avenue toward downtown. Source: Alamo Architects.

Posted: 1-13-2022

by Adolfo Pesquera

San Antonio (Bexar County) — The Planning Commission recommended a land use amendment Wednesday that will assist a local multifamily developer’s efforts to construct a five-story apartment building on San Pedro Avenue near downtown.

The land use changes from Urban Mixed Use to Regional Mixed Use.┬áThe applicant, Franklin Companies, is scheduled to appear Jan. 18 before the Zoning Commission on a related request to revise the property’s zoning from Neighborhood Commercial to High Intensity Infill Development Zone.

Ken Brown of the Brown & Ortiz law firm represented Franklin before the panel. Brown said the changes are needed to allow a higher density residential development than is currently permitted.

Brown added that Franklin has the support of the Tobin Hill and Five Points neighborhood associations.

“We’ve worked with Tobin Hill and Five Points for over a year and a half. They have supported the plan amendment the whole time. They want to see residential in this area, instead of highly intensive commercial,” Brown said.

The tire shop currently located on the project site for Four25 San Pedro. Image: Google Streets.

The project site is located on the west side of the 400 block of San Pedro Avenue. An automobile service garage has operated there for many years.

The project name, Four25 San Pedro, has its origin in one of the two street addresses–419 and 425 San Pedro. Two lots currently owned by separate third parties are involved.

Brown explained that the City of San Antonio currently holds an option to purchase the lots through a Real Estate Purchase and Sales Contract. Through a Request For Proposals process, the city chose Franklin Development Properties Ltd. (a division of Franklin Companies) to be the development partner for Four25 San Pedro.

The contract was awarded in February 2021 and Franklin subsequently applied to the Texas Department of Housing and Community Affairs (TDHCA) for a 9% housing tax credit award to assist in financing an affordable workforce housing project.

The lower number of units and unit sizes in the 2021 application were factors in TDHCA scoring the project too low for a tax credit award, Brown said.

“They resubmitted and we are going to have more units. Now we’re up to 90 units,” he said.

If the project is able to proceed as envisioned, Franklin will assign this contract to the San Antonio Housing Trust Public Facility Corporation, the managing member of the General Partner of the Partnership prior to closing.

The concept presented to TDHCA last year is only slightly smaller in scale than what will be resubmitted. The 2021 design, prepared by Alamo Architects, had a parking garage at ground level and apartment units on floors two through five.

It had 80 apartment units and a gross square footage of approximately 147,000 square feet. Amenities includes three courtyards, a children’s playscape, community garden and dog park.

The ground floor, in addition to parking, included conference rooms, an activity room with storage, kitchen with pantry, art gallery, community room, business center, cop shop, leasing center, and maintenance room with mechanical.

Other than San Pedro, the boundary streets are Marshall Street to the north and Jackson Street to the west. Vehicular access to the garage would be from Jackson.

The Franklin Companies is a San Antonio real estate firm that handles general contracting inhouse through its Franklin Construction Ltd. division.

VBX Project ID: 2022-04D0


adolfo@virtualbx.com

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By |2022-01-13T13:37:21-06:00January 13th, 2022|Construction Preview, Feature Story|

About the Author:

Adolfo Pesquera (Reporter/Editor) is a veteran news journalist. He has worked for Hearst Corp., American Lawyer Media, News Corp and Freedom Communications. His work has been published in newspapers and magazines across the USA. He is a journalism graduate of UT-RGV. He writes, edits and creates digital pages for VBX.

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