by Adolfo Pesquera
San Antonio (Bexar Co.) – On Tuesday, the city Zoning Commission will consider an application for a WoodSpring Suites Hotel and a multifamily project.
New Era SA LLC, a company based in Wichita, Kansas, has applied to change the zoning for a tract of land in the 2800 block of North Loop 1604 East from Commercial-2 to Commercial-2 with Specific Use Authorization for a hotel.
New Era, represented by its manager, Christopher Stevens, proposes a multi-story single structure totaling approximately 48,084 square feet. The developer has proposed to provide 122 parking spaces and landscape buffers along all four sides of the property.
The WoodSpring Suites project site encompasses 6.17 acres. The hotel, parking included, would occupy the eastern half of the lot.
Vehicular access would be onto the Loop 1604 frontage road from the lot’s southeast corner. The project site is between Redland Road and Gold Canyon Road.
WoodSpring Suites is an extended stay hotel chain.
The civil engineering and surveying firm of Macina Bose Copeland & Associates prepared the site plan.
Multifamily Projects
The Zoning Commission will also consider an application to change zoning on a 10.73-acre tract near Stone Oak from Commercial 2 to Multifamily. The project site is located east of the 23000 block of U.S. Highway 281 and to the southeast of a Sam’s Club.
The property owner and applicant, S&A Management LLC, is seeking the zoning change. John W. Erwin Jr. is its director. Erwin is also listed in business directories as the controlling owner of Carenet Healthcare Services.
Kaufmann|Killen Inc., a land use law firm, represents S&A Management, as well as New Era on the WoodSpring Suites.
City staff has recommended the zoning change, stating that the size of the lot and its location make it suitable for multifamily development and the parking requirements.
On Feb. 22, the Planning Commission will look at a request by Ken Rideout, representative for Abilene Christian University, the seller, to subdivide a tract of land that faces Judson Road that is between Interstate 35 to the west and Independence Avenue.
Abilene Christian University, as the trustee of the Mitty White Charitable Remainder Unitrust, has submitted a subdivision plat to the city that is titled Oak Valley Apartments. This is a 10.057-acre site. The plat was prepared Feb. 6 by CDS Muery, a San Antonio civil engineering and surveying firm.
According to the Texas Department of Housing and Community Affairs, Oak Valley Apartments, 12613 Judson Road, was sponsored by the San Antonio Housing Trust Finance Corp. for the purpose of obtaining a 4 percent Housing Tax Credit. TDHCA records state that “the Executive Award and Review Advisory Committee recommends the issuance of the Determination Notice (for the tax credit), with the condition that the closing (on bond financing) occur within 120 days (on or before May 26, 2017).”
The Determination Notice is valued at $1,008,700 in tax credits.
Oak Valley Apartments is a series of three-story buildings planned to be an affordable income community with all 192 units provided to renters earning 60 percent of the Area Median Family Income. The census tract has a median household income of $57,393; that puts the renter income as $34,436. The average unit size is 979 square feet.
Initially, there was some community opposition to the affordable housing project, including a letter of opposition from Bexar County Commissioner Tommy Calvert. However, Calvert reversed his position, as did the Valley Forge Residents Association.
The developer is Pedcor Development Associates LLC, a division of Carmel, Indiana-based Pedcor Companies. Its primary lender is PR Mortgage Investment Corp., from which Pedcor is borrowing $20,071,065. Including equity sources of $13,405,844, the total project capitalization is $33,476,909.
Building costs have been estimated at $70.34 per square foot or $69,000 per unit for a total of $13,227,000. The hard cost is estimated at $19,739,000, and the contractor fee is estimated at $2,763,000.
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adolfo@virtualbx.com
