Local Buyers Snap Up Majority of Condos
In just a year, 60% of the condominium homes in The Arts Residences at the Thompson San Antonio hotel have been purchased by local residents who are transitioning to a centrally located lifestyle.
SAN ANTONIO—DC Partners has achieved a major milestone, selling 60% of the condominium homes in The Arts Residences at the Thompson San Antonio hotel since its sales office opened last May. This is DC Partners’ first project in the San Antonio market. DC’s development partner is San Antonio-based Universal Service Group.
“The interest in this property is increasing daily, and we are continuing to see a large influx of buyers from the San Antonio area,” said Roberto Contreras, CEO of DC Partners. “San Antonio will benefit enormously from this project, which creates jobs and boosts the local economy.”
Most, in fact 70%, of the residential condominiums sold in The Arts Residences thus far have been purchased by longtime San Antonio residents from the city’s upscale neighborhoods who are transitioning to a centrally located and secure lifestyle. Located in the epicenter of the performing arts district, the 337,000-plus-square-foot mixed-use development encompasses The Arts Residences’ condominiums atop San Antonio’s first Thompson Hotel.
“There are several reasons this project has been so popular with the San Antonio community. From a new construction building with an unbeatable lifestyle and world-class amenities to the quality of finishes offered and exceptional location, The Arts is the premier River Walk address,” Julie Klein, marketing director, DC Partners, tells GlobeSt.com. “The Arts Residences at the Thompson San Antonio is located in the Arts District directly across the river from the Tobin Center for the Performing Arts and walking distance to fantastic coffee shops, renowned restaurants and the central business district.”
The development was designed by Powers Brown Architecture and the general contractor is San Antonio-based Jordan Foster Construction. The Arts Residences are slated for completion in the first quarter of 2020.
“The site of the development is unique and interestingly shaped. We are proud to work with Powers Brown Architecture on being able to accommodate all we needed in order to give the amenities, service, ample hotel rooms, amazing resident floorplans, and showcase the stunning views to residents and guests alike of the Thompson Hotel,” Klein tells GlobeSt.com. “The pool deck overlooks the River Walk and the Tobin Center with incredible views of the downtown skyline and each unit features floor-to-ceiling windows offering the same expansive views.”
The for-sale residences are priced from the high $400s to over $4.5 million for penthouses. The property has around-the-clock security and onsite amenities including a restaurant, a 5,000 square-foot pool deck with cabanas and pool bar, a spa, a fitness center, and 24-hour room and concierge service.
“This will soon be the most-coveted residential address in San Antonio,” said Karla Dupre, director of sales for Kuper Sotheby International Realty, which exclusively handles sales for The Arts Residences at the Thompson San Antonio hotel. “Seven of these incomparable, über-luxurious condominium homes sold within the past few weeks. We still have a great unit mix with incredible views available. We encourage interested parties to visit the sales office sooner rather than later.”
DC Partners’ portfolio consists of more than 1.5 million square feet, with properties including office facilities, mixed-use centers, hospitality, multifamily, residential communities and luxury high-rise condominiums. Among its most recent luxury condominium projects are the Cosmopolitan, Astoria, Arabella, Marlowe and Chateau Ten. The boutique hotel chain has 10 hotels and resorts across four states and is building out quickly, with seven more hotels under development, including the Thompson San Antonio.