Developers Break Ground on 323-Unit The Residences at La Cantera

By Camelia Bulea, Associate Editor

USAA Real Estate Co. and Cambridge Development Group are set to break ground on a new Class A apartment complex to be called The Residences at La Cantera.

The high-end, urban-style project will feature 323 units and 4,000 square feet of retail space, according to a USAA press release. The property will offer future residents studio to three-bedroom floor plans ranging from 553 to 1,785 square feet, with high-grade interior finishes such as hardwood flooring, stone countertops, technology niches and expansive baths.

The project cost for The Residences will be close to $50 million, and the development is expected to be complete by spring 2014, the San Antonio Express-News quoted USAA executive managing director of real estate investments Bruce Petersen as saying.

The Residences at La Cantera is the first phase of the 150-acre, multi-phase Town Center at La Cantera mixed-use development, which in future phases will include hotel, office, amenity retail and additional multi-family. The first phase will include a three-acre park that will serve as the public heart of the Town Center, featuring a vibrant urban plaza, great lawn, adventure playground, lush wet pond and picnic areas shaded by preserved live oak trees.

Residents will share a spacious clubhouse with a cyber cafe that connects to a resort-style pool and Jacuzzi, a fitness center with separate yoga classroom and a rooftop terrace, fire pit and full outdoor kitchen.

The retail space will be situated on the ground floor of the four-story building. No retail leases have been signed, but Petersen said that possible tenants could include a coffee shop, according to the San Antonio Express-News.

Photo courtesy of USAA Real Estate Co.

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