San Antonio’s Largest Apartment Projects Completed in 2015
- Mar 02, 2016
By Balazs Szekely, Contributing Editor
San Antonio, Tex.—While home ownership has been declining in Alamo City, the demand for San Antonio apartments continues to rise. One of the reasons why San Antonio has been such a successful market for multifamily investors is its robust rent growth. Although at a growth rate of 4.9 percent it still lags the national 6.6 percent year-over-year average growth through September, the trend is encouraging considering that it represents a 340-basis-point jump from a mere 1.5 percent in the fall of 2014.
A total of 16 apartment communities of 50+ units were completed in 2015, providing 4,327 new apartment units. The average rent in the city was around $940 in early 2016, and tenants paid an average $1,290 for apartments completed after 2010, according to Yardi Matrix.
Take a look at some of the largest rental developments completed in 2015:
1. The Towers Located at TPC — 416 units
This development consists of 282 one-bedroom apartments and 86 two-bedroom apartments and, contrary to what its name suggests, remains at a modest height by limiting its 13 buildings to 4 stories. The Olympic-size pool complete with poolside cabanas and tanning deck is the center of the action, although the pet-friendly policy and the off-the-leash dog park are also among its main attractions for pet owners.
2. Legacy Brooks — 412 units
Ranging from studio apartments to one-bedroom townhouses and three-bedroom apartments, Legacy Brooks’ 412 rental units offer access to a wide variety of amenities. The swimming pool has full beach access, and residents can make use of a fully equipped gym. A covered parking is also available with 500 spaces, as well as a 5,500-square-foot clubhouse and billiard tables. Dog owners also benefit from a designated off-the-leash park area.
3. Darian Monterry Village — 360 units
The residential buildings at the Darian Monterry Village community are arranged around an infinity pool. One-, two- and three-bedroom apartments totaling 360 units are distributed over the 10 buildings that make up the complex. In keeping with the luxury appearance of the development, residents have access to a range of amenities including a gaming station, gym and the aforementioned pool. The ’bark park’ offers an additional grooming station.
4. Sonterra Blue — 342 units
Sonterra Blue’s eight three- and four-story buildings include 342 one-, two- and three-bedroom apartments. Although the development is not pet-friendly, it features a central pool area, attractive picnic and BBQ space and a fully equipped fitness center. Covered parking for 513 vehicles is also available for a monthly fee.
5. The Residences at La Cantera — 323 units
This upmarket property is situated within The Shops at La Cantera community, one of the most affluent malls in San Antonio. Each of the 325 one, two- and three-bedroom apartments has its own private balcony, and residents have access to golf course and spa area. The swimming pool and the roof garden park allow residents to relax and take in views of the surrounding hill-country.
For more of 2015’s largest apartment projects in San Antonio, check out the Top 10 list on the RENTCafé Blog.