Embrey Partners Plans 338-Unit Community in San Antonio
The firm secured financing to begin development of a multifamily project at the former Borden Creamery site.
Embrey Partners has secured financing from Wells Fargo to develop at 338-unit multifamily community at the historic Borden Creamery property on US 281 in San Antonio. The multifamily investment, development and management firm will demolish a current self-storage facility on the property for the project.
The apartment community will be compatible with the Art Deco exterior of the Borden building, which will be preserved in a separate project by AREA Real Estate featuring 60,000 square feet of office and retail space. Construction on the multifamily project on the 5.1-acre site will begin in July and is slated for completion in July 2023.
Located on US 281 adjacent to San Antonio’s Pearl district, Embrey’s plan includes making improvements to the San Antonio River. The project will also promote walkable neighborhoods by adding sidewalks and an elevated pedestrian bridge that will connect the Tobin Hill neighborhood to the river and the Brackenridge Park Trail.
Jimmy McCloskey, Embrey’s executive vice president of development, said in a prepared statement the firm has worked with Bexar County, the City of San Antonio, Tobin Hill Neighborhood Association and the San Antonio River Authority to ensure a careful design for the apartment community to incorporate it in to the surrounding community.
Embrey Partners Plans
Last month, Embrey began construction on Estates at Hill Country Village, a 296-unit luxury apartment community adjacent to Hill Country Village on Highway 281. First occupancy is expected to being in the second quarter of 2021 with completion of construction slated for early 2022.
In early February, Embrey submitted plans to the City of Phoenix to construct Embrey Kierland North, a 272-unit luxury apartment community proposed for the Scottsdale Road Corridor. A month earlier, Embrey announced it was beginning construction on The Elm at River Park, a 293-unit multifamily community on a 6.5-acre parcel at 2500 River Park Drive in Fort Worth, Texas. Located a mile from The Shops at Clearfork, the development will be about 6 miles from downtown Fort Worth. Also in January, Embrey sold Luxe at Mile High, a 382-unit luxury community in downtown Denver, for $145 million.