Alteza above the Grand Hyatt has been a part of San Antonio’s history. With limited inventory remaining, the developer is motivated to move the remaining residences through a newly launched Closeout campaign. Using local television spots to announce the opportunity, the remaining residences are being readied for quick closings with interior upgrades that designer paint and custom closet build outs. Additional pricing flexibility has been demonstrated in the community’s most recent sales as Alteza narrows in on a sellout.
When the Grand Hyatt was built as the new convention center hotel, the luxury condominium residences of Alteza were built on the top 10 floors of the building. Designed by award-winning Arquitectonica of Miami, Alteza represents an extremely unique, once-in-a-lifetime property. This luxury whole ownership condominium maintains complete privacy from the hospitality operations, yet residents enjoy access to convenient hotel services. It remains as the only luxury high-rise building located in the heart of downtown, overlooking South Town, Hemisfair, the River Walk, the Tobin Center, the Alamo and The Pearl dining and entertainment district.
Caught in the economic downtown, Alteza sales were minimal in the early years. Today, with the emergence of empty nesters and retirees seeking a walkable downtown lifestyle and the energy of San Antonio’s Decade of Downtown, Alteza has become one of the most desirable addresses in the region. With the benefit of lower lower land and construction prices, Alteza’s sales figures are among the lowest in the country. The average price per square foot at Atleza is now lower than the average net cost to build a similar project in today’s environment. Future high-rise development in the area will reflect this increase in land and construction costs, making Alteza very limited commodity. It’s no wonder the project represented more than 25% of the total condominium sales in San Antonio in 2015, and as a result is nearing sellout.
For savvy real estate investors and those who enjoy the rich urban lifestyle, the opportunity to own a new residence at Atleza is tempting. The community is down to only 20 of the 147 residences remaining available for purchase, although many prime 2-bedroom floorpans remain available. For penthouse buyers or those seeking a one-bedroom residence, time is of the essence with only one condominium remaining in each of those categories.
The remaining residences range in size from 1,064 to 3,697 sf, with the majority averaging approximately 1,500 sf. Current residents have found they do not require the third bedroom as Guests prefer staying in one of the 1,000 rooms of the Grand Hyatt below. The flexibility allows for larger family gatherings and guests appreciate the independence and privacy of the hotel. Residents of the Alteza enjoy special rates, access to the Hyatt Stay Fit gym, room service and charging privileges at the Grand Hyatt. Alteza owners are pampered by 24/7 Concierge Services and two private parking garage spaces.
Alteza is offering a Test Drive program for qualified homebuyers to experience the Alteza lifestyle by staying in a 2-Bedroom Guest Residence. To learn about this program or gain a more in-depth insight into the remaining residences available at Alteza, contact Dustin David the community’s Sales Director at 210-212-8400 or register your interest at TheAlteza.com.