The mixed-used development at 421 S. Presa St., currently a surface parking lot, would include 70 apartments, two townhomes, three live-work spaces, and 1,533 square feet for ground floor retail space. Rhode Partners, an Austin-based architectural firm, is working on the design.
The commission approved the first three floors and garage levels of the project in early December, but asked for a more slender tower that would reduce perceived interference with San Antonio’s skyline.
Commissioners did not take up the issue of whether the Durango would impact views of the Tower Life Building on Wednesday, but Proctor included several renderings in the application package that showed views of the historic building from several vantage points on South Alamo Street. Local regulations only protect area views of the Alamo and four other Spanish-colonial Missions on the Mission Reach, but the City is currently exploring possible rules for other iconic views in San Antonio.
If approved, the project would receive an incentive package worth more than $3 million from the City – most of it in the form of tax abatements, Proctor said.
Such incentives have since been placed on hold, as community and City Council members have questioned the need for abatements in seemingly thriving real estate markets.
Rents for an apartment in the Durango would range from around $1,400 to $5,000 per month. At about $3 per square foot, they would be among the highest price points in San Antonio.
The lot is one block west of Hemisfair’s Yanaguana Garden and its forthcoming office and housing projects, across South St. Mary’s Street from the 349-unit Agave Apartments, one block east of the River Walk, and in walking distance to the King William Historic District and H-E-B’s South Flores Market. A 30-story luxury apartment building was proposed less than one mile away next to the Tower Life Building.
Article Courtesy of The Rivard Report
