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River Walk Location Sets the Stage for High-Rise Project

SAN ANTONIO, TX—Villita Tower is a 30-story, 201-unit, market-rate multifamily residential development planned for this supply-constrained metro.

Villita Towers A rendering shows the spot where the tower will be located.

SAN ANTONIO, TX—San Antonio is the seventh largest city in the country, and like the other major Texas MSAs, has been putting up strong numbers in job growth, ranking 10th fastest city in jobs growth at 3.2% this past year. San Antonio unemployment sits at only 3.9% and its growth has been fueled by the biosciences, healthcare, aerospace, and information and green technologies. Growth from these industries has insulated it from the woes of the petroleum industry, allowing it to remain largely unlinked to the performance of oil prices.

This type of growth has challenged developers to keep up with demand. With that challenge in mind, Dallas-based developer, JMJ Development is sourcing $47 million in debt and equity for the construction of Villita Tower. The 30-story, 201-unit, market-rate multifamily residential development is soon planned for this supply-constrained metro. Villita Tower capitalizes on the tight rental market of San Antonio, but also seeks to deliver a truly unique and luxury product in a rare, iconic River Walk location.

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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