By Katie Burke, San Antonio Business Journal
People may have once called it lame, but San Antonio’s reputation among national investors is becoming a whole lot cooler. Or hotter, depending on how you look at it. According to PWC’s latest Emerging Trends in Real Estate report secondary markets such as San Antonio are expected to draw in more investment and development activity as both global and domestic investors hunt for better yields.
Classified as an 18-hour city, San Antonio and other markets such as Austin, Denver and San Diego have managed to replicate aspects of primary markets that a majority of investors find attractive, making it possible to provide the benefits of larger urban areas but with a much lower price tag.
Even further, the report found that cities like San Antonio are consistently tagged as “cool” markets that are growing simply because of their own unique lifestyle. And since more capital is available to absorb than in a small number of primary, 24-hour markets, the trend is only expected to continue.
The only roadblock the city may face in the year ahead is investors’ hesitancy with regard to falling oil prices. While San Antonio has remained fairly immune to any negative implications – -Houston, on the other hand, hasn’t been so lucky. There are some that are taking on the wait-and-see approach, which has the potential to slow investment activity in the area.
However, the city’s strengthening economy, job grown and thriving residential market will undoubtedly provide long-term support to San Antonio’s real estate market. PWC found that the local housing market, including both single-family and multi-family developments, provides two of the best investment opportunities in the city.
Moving forward into 2016, though, that spotlight on multifamily will begin to shift into other commercial areas, such as office and retail. Click here to read the original article.
Alteza above the Grand Hyatt has dominated the downtown condominium market over the past year. Located in the epi-center of the growing urban core, the luxury condominium community is celebrating the opening of Hemisfair. Phase I of the park, Yanaguana Gardens, opened earlier in early October, and the multi-million dollar Henry B. Gonzalez Convention Center Expansion for completion early next year. The projects follow the opening of the Tobin Center of the Performing Arts a year ago, and the expansion of the River Walk to the north and south as a popular walking and fitness trail. Earlier in the year, UNESCO named the San Antonio Missions as a World Heritage Site, shining a bright spotlight on life in downtown San Antonio. In real estate, timing is everything. Alteza’s remaining residences include a variety of two-bedroom floorplans, a limited selection of one-bedroom residences and one multi-level penthouse residence. Alteza is priced from the high $300s. The final penthouse is priced at over $2 million.