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Petro Waste Environmental Proposes $5M Oil-Field Waste Disposal Site

10 Aug 2014, 3:58 am

By Anca Gagiuc, Associate Editor

San Antonio-based Petro Waste Environmental, a company that provides environmental services, has proposed an oil-field waste disposal and treatment site for a 204-acre piece of land in Nordheim, DeWitt County, one of Eagle Ford Shale’s busiest drilling areas. The application has been presented to the Texas Railroad Commission for the second time, after being denied in 2013 because of the risk the proposed facility inflicted on the area, possibly causing or allowing pollution to enter surface or subsurface waters and because of protests by local residents.

Nordheim is about 75 miles southwest of San Antonio. The company has estimated its investment in the proposed facility, which would be developed in the first quarter of 2015, will total $5 million. The site will employ 10 to 15 workers.

The current environmental regulations state that oil and hydrocarbon waste must be disposed of in specialized facilities such as the one proposed by Petro Waste Environmental. The closest sites capable of accepting this type of waste are more than an hour and a half away, and the DeWitt area and the neighboring counties are in the middle of the drilling process.

“The demand for this (landfill) is coming from the industry,” PWE CEO George Wommack said. “All the major oil-and-gas companies want to dispose of their waste as safely as possible, and they’d rather have it done at a facility where it’s going to be constantly monitored by a company whose business is managing environmental risk.”

The Texas Railroad Commission will hold a hearing on Sept. 10, when it will be decided whether the facility will be approved or if suggestions will be offered to avoid jeopardizing the area’s environmental safety and integrity.

Coventry Homes Relaunches Luxury Line in San Antonio

2 Aug 2014, 3:13 am

By Anca Gagiuc, Associate Editor

San Antonio’s strengthening housing market is calling back developers. Coventry Homes announced its return to the region with its line of luxury production homes, with plans for six new communities encompassing approximately 400 sites that will be made available by the end of the year.

“During the recession, there wasn’t great demand for luxury homes in master-planned communities in San Antonio, so we only continued building Coventry homes through our Build on Your Lot program,” said sales manager Ken Gezella. “With the resurgence of the housing market, however, the demand for luxury homes has returned, and it seemed only natural for us to bring back Coventry’s exclusive designs to fill that demand.”

The six communities are planned as follows:

Stillwater Ranch is a development in the Northside Independent School District northwest of San Antonio with an array of amenities. This community marked Coventry’s reentry into the local housing market. The builder has 39 home sites in the community, with prices starting at $300,000.

Woods of Boerne is a gated community with spacious, wooded home sites proximate to Boerne’s downtown historic district, thus close to retail shops, antiques shops, art galleries and more. Completion of the model home is targeted for fall, and with presales ongoing, the first homes are scheduled to go online in early winter. The builder has 79 home sites, and buyers can select from 10 customizable floor plans, with prices starting at $320,000.

Kinder Ranch is one of the two communities that Coventry will enter this fall. The builder will have 40 home sites.

Rhine Valley is the other community Coventry plans to enter this fall. The builder will have 30 home sites.

Coronado is one of the two communities that will begin presales this winter. The builder will have 123 home sites.

Highland Estates is the other community in which Coventry will begin presales later this year. The builder will have 103 home sites.

“Our luxury home designs will be showcased in each of these communities and will be completely different from other builders’ designs because we allow people to truly customize their homes,” Gezella said. “Coventry buyers aren’t limited to a set of structural options or design features. Budget, imagination and community deed restrictions are their only limitations when buying a Coventry home.”

Luxury Apartment Community Aura at the Rim Breaks Ground in San Antonio

28 Jul 2014, 4:20 am

By Anca Gagiuc, Associate Editor

Northwest of San Antonio, a new luxury apartment community has broken ground. Aura at the Rim is being built by Dallas-based developer Trinsic Residential Group LLC.

The residential project stands four stories tall and encompasses 308 units; it is located within The Rim mixed-use development, near the intersection of Interstate 10 and North Loop 1604, providing proximity to shops, restaurants and entertainment, as well as surface parking and attached and detached garages.

“Northwest San Antonio is an area that is enjoying an exciting surge in commercial activity and employment opportunities,” said Adam Brown, managing director for Trinsic. “It’s got it all: premiere shopping venues The Rim and The Shops at La Cantera, major employers, world-class vacation destinations and more. Aura at The Rim is perfectly positioned to give residents easy access to the best of the region. The site is elevated nearly 50 feet above the rest of the development, so it will afford residents spectacular views of the Hill Country and distant downtown San Antonio.”

The residents will be given the choice of one- and two-bedroom apartments, featuring custom cabinetry, granite countertops with a glass linear backsplash, stainless steel appliances, faux wood floors and accent walls. Community amenities include a state-of-the-art fitness center with spin room and a stretching area for yoga, a full-service resident lounge connected to a resort-style pool, an outdoor fire pit, and grilling areas.

“We’re thrilled to be giving residents one of the finest luxury apartment options in the area,” added Brown. “Aura at The Rim will be a truly exceptional multifamily community.”

Berkadia Commercial Mortgage Arranges $13.2M for Acquisition of Two San Antonio Properties

19 Jul 2014, 3:12 am

By Anca Gagiuc, Associate Editor

Two properties located in and near San Antonio have been acquired with financing from Berkadia Commercial Mortgage LLC. The loans, totaling $13.2 million, were arranged by company senior vice president Andy Hill.

Marriott’s acquisition of Fairfield Inn & Suites in New Braunfels had secured $6.7 million in financing through CMBS lender Basis Investment Group LLC; the loan spans more than 10 years, at a fixed rate. Built in 2010, the property has 89 rooms and suites to offer to its guests. Fairfield Inn & Suites by Marriott is located at 1465 N. Interstate Highway 35, convenient for both business and leisure purposes, with several tourist destinations, including Schlitterbahn Waterpark, Texas State University and Canyon Lake.

The other $6.5 million originated in interim financing for the acquisition and repositioning of an apartment development in southeast San Antonio. The loan spans more than three years, non-recourse, featuring future funding options for upgrades to the property. The apartment complex has more than 200 studio, one- and two-bedroom units, with 98 percent occupancy. Among the amenities are a swimming pool with hot tub and sundeck, a clubhouse, and several outdoor barbecue areas.

“The San Antonio area continues to enjoy a stable economy and steady job growth. Over the next few years, job growth in San Antonio is forecast to be nearly twice the national average, leading to increased market appetites for strong real estate investments in the region,” said Hill. “Berkadia has the tools, expertise and relationships necessary to meet this demand and secure customizable financing options for a wide variety of projects.”

La Cantera Hill Country Resort Announces Multimillion-Dollar Makeover

12 Jul 2014, 5:15 am

By Anca Gagiuc, Associate Editor

San Antonio — with its stable and diverse economy, fast-growing manufacturing and strong military investment, medical providers and energy industries, and flourishing tourism industry with more than 26 million visitors annually — demonstrated how it is possible to dodge recession. To keep up with the growing demand, the hospitality sector is highly attentive to client satisfaction, thus improvement works are part of the blooming industry.

After several months of planning, La Cantera Hill Country Resort, managed by Destination Hotels & Resorts, has finalized the multimillion-dollar transformation plan that will impact its entire 250-acre footprint. The plan will constitute the most extensive upgrade the resort has received since its opening in 1999.

The plan consists of the construction of a new, freestanding destination spa, contemporary pools and family areas. The San Saba Courtyard is scheduled to get a complete redesign, including a new event lawn. The front entrance will be reconfigured, as well as the lobby and lobby bar. A junior ballroom, expanded meeting and convention space, an dredesigned restaurants, bars and lounge concepts will also receive a facelift.

“Because the magnitude and impact of the project will prevent our associates from providing our guests with our customary offerings and services, the resort will suspend overnight accommodations and restaurant operations during the major phase of construction, from Nov. 3, 2014, through early April 2015,” said resort Vice President & Managing Director John Spomer.

Both golf courses and their clubhouses and event venues will remain open and operate as usual during renovation.

Photos courtesy of La Cantera Hill Country Resort.

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