At the Urban Land Institute San Antonio Real Estate Outlook luncheon last month, the latest version of PricewaterhouseCoopers and ULI’s Emerging Trends Report was presented. How San Antonio fits within the nation’s shifting real estate market was the topic — Here are the three that will have the biggest impact for the Alamo City:
- San Antonio is now a bonafide 18-hour city. The increasing pool of urban housing options such as the for sale condominiums at Alteza Residences above the Grand Hyatt and a multitude of multifamily leasing opportunities throughout the lower Broadway corridor have transformed the residential market in San Antonio’s downtown.
- Combined with its ability to offer a lower cost of living, San Antonio has earned its reputation as “hip” city that provides a unique lifestyle at a significantly lower cost — especially compared to larger markets in San Francisco, New York or Boston.
- The takeaway here is that domestic and global investors are looking at these 18-hour cities — defined as an environment that fosters a live, work and play lifestyle between the hours of 5 a.m. and 1 a.m. — as new markets to put their capital into, especially considering the report’s findings that these cities are providing opportunities for higher yields.
In real estate, timing is always an important consideration. San Antonio’s future is bright, and those choosing to invest in the city center are showing foresight that should pay off in the years to come. Request a free issue of Up & Coming San Antonio for more insight into the renaissance of downtown here.