San Antonio—Austin-based Oden Hughes LLC and Desarrollos Delta of Monterrey, Mexico, have announced that they will begin the first phase of construction on a 950-unit multifamily community in the Northwest area of San Antonio beginning in early 2014.
The community will be the largest new apartment construction project the young Oden Hughes organization has undertaken, and the eighth such project since the company was formed by Steve Oden and Craig Hughes in 2010.
The location for the community is planned for the southeast corner of I-10 and Loop 1604 and will be built in three phases over five years. The site is in the same vicinity as the corporate centers for companies like Valero Energy, NuStar Energy and USAA, and also entities such as the University of Texas-San Antonio and the San Antonio Medical Center District, all of which were driving factors in site selection, according to a press release issued by the company.
“This is a true marquee site that gives Oden Hughes the ability to build a marquee development at the most dynamic intersection in San Antonio,” Oden says.
The first phase of development will include the construction of the one-, two- and three-bedroom floor plans that will range in size from 479 to 1,350 square feet and will have an expected rent range of $800 to $1,750 a month. The first 350 units are expected to open in the summer of 2015.
While Oden Hughes will act as the general contractor for the project, Kelly Grossman was tapped as the project’s architect, and Pape-Dawson Engineers Inc. will be in charge of the engineering component.
Oden Hughes is under contract to purchase the 25-acre site from a partnership with Fulcrum Property Group and Details Real Estate Services. The acreage is just a fraction of Fulcrum Property Group’s 98-acre Landmark, a master planned development that includes a 5-acre medical office tract and a 1.5-acre retail site.
Project costs were not made available.