Feature Illustration: Artist rendering of the apartment building elevation by B&A Architects, Inc.
Posted: 6-15-2021
by Art Benavidez
San Marcos (Hays County) — A San Antonio developer had their final plat for a 216-unit apartment complex approved during last week’s meeting of the Planning and Zoning Commission.
The plat was approved on the condition that any additional necessary easements-as determined by the Public Improvement Construction Plans–shall be approved by a separate easement.
The 9.933 acres, labeled The Lantana Apartments, is undeveloped and located to the southeast at the intersection of Rattler Road and Old Bastrop Highway.
The developer proposes two new lots for multifamily development, along with the construction of three new public rights-of-way.
VBX reported that the property was converted from future development (FD) to character district (CD-5) in June of 2020.
In May, the project received approval from the Parks and Recreation Board to pay a fee-in-lieu of parkland dedication in the amount of $68,472. The project will also be required to pay a parkland development fee of $91,368.
The project received a resolution of no objection for low income housing tax credit from the city in 2020, with bonds being issued by the San Marcos Housing Authority Finance Public Facilities Corporation.
The developers are seeking a 4% low income housing tax credit award from the Texas Department of Housing and Community Affairs (TDHCA).
The development will feature one-, two- and three-bedroom units, restricted to people with incomes from 30% to 70% of the area median family income (MFI).
Eleven of the units will be accessible to disabled individuals. Three of these units will be allocated for people earning at or below 30% MFI.
The apartment complex will include a fitness center, playscape, swimming pool, dog parks, barbecue grills, picnic tables, business center, furnished community/dining room, bicycle parking and surface parking.
San Antonio-based B&A Architects, Inc. released a site plan with eight apartment buildings and the following specs:
- A clubhouse
- 351 parking spaces
- 11 bicycle parking spaces
- Detention pond
- Sport court
- Two six space parking garages
- One five space parking garage
- Five carports
The total development cost is $41,206,032, with the total construction contract at $27,585,941.
The property is owned by Mark Tolley, general manager of Mission Development Group, through the entity Rattler Road Land Partners, LLC.
San Antonio-based Concept Builders is the general contractor. KFW Engineers are also on board.
The property will be managed by the San Antonio-based Lincoln Properties Company.
art@virtualbx.com
