There has been a lot of talk about Southtown and the Pearl, but one of the true redevelopment success stories of the past three years has been the rebirth of Austin Highway, and that redevelopment took another step forward today.
Developer Guillermo Nicolas, whose '3N group' has pioneered the rebirth of the South Flores are and Southtown, today opened 1111 Austin Highway, a luxury apartment complex not far from the McNay Art Museum.
"This building stands on what was two seedy motels and a run down apartment building," Nicolas said. "Part of our company's mission it to revitalize areas which have lost their shine but still have wonderful value."
1111 Broadway features 278 high end apartments, as well as a four story clubhouse, two swimming pools, a business center and a conference room. He says revitalizing existing property makes so much more sense than developing in a new area.
"We are recycling the public's utilities that they have paid for that we have all paid for, the streets, the drainage, and water and the electricity," he said. "Rather than burdening the community by having to create new infrastructure."
He says the Austin Highway area has a lot to recommend it. The complex is in the Alamo Heights ISD, and it is near every type of amenity imaginable, from shops to restaurants to cultural attractions like the McNay.
A 6,000 square foot retail center is set to open in the coming months to provide more services to residents.
Nicolas says his attention will now turn back downtown, especially now that HEB has agreed to build a grocery store in the downtown area. He is developing an apartment/hotel combination not far from the Bexar County Courthouse.