SAN ANTONIO--Amstar, a Denver, Colo.-based real estate investment manager acting on behalf of one of its public retirement system clients, has announced the acquisition of a 2.3-acre development site in San Antonio. Amstar and its development partner, Transwestern Development Co., will construct a 229-unit apartment building on the site.

''We are extremely excited to commence construction on Southtown Flats,” Josh Delk, associate vice president of Transwestern Development Co., told GlobeSt.com. “We believe it will be a landmark project in San Antonio's most hip and authentic neighborhood.''

The infill development will begin moving dirt next month, with the first units scheduled to deliver in the first quarter of 2016.

Located at 111 Probandt St., Southtown Flats is south of downtown. Community amenities will include a resort-style pool with outdoor kitchen and cabanas; a courtyard featuring a yoga lawn, hammocks, game areas and fireplace; bicycle storage rooms; a roof deck with downtown views, grilling stations, dining areas and fire pits; clubhouse with catering kitchen, dining areas and resident lounge with flat screen TVs; fitness center including yoga studio, cardio equipment, free weights and classes provided by FX Fit.

Southtown Flats will be built in two five-story buildings that will surround a 4.5-level garage. In addition to stainless-steel appliances, each unit will feature quartz countertops, kitchen islands, custom-wood cabinets and private balconies.

“Amstar is thrilled to partner again with Transwestern Development Co. on a class A multifamily development,” says Amstar managing director Daniel Cohen. “San Antonio is still early in its economic recovery, and with strong renter demographics, we believe Southtown Flats will be a successful investment.”