Intersection Gets Thumbs Up From Corporate Users
Parkline will accommodate up to 1 million square feet of office projects and upon completion, have 1,149 multifamily units, a 136-room Aloft Hotel, and 108,000 square feet of retail and restaurant space.
SAN ANTONIO—As San Antonio is viewed more often as a major market, this demand is reinforced by the desirability that downtown holds for businesses, according to a report by NAI Partners. Reinforcing that business case for areas throughout the market is Parkline, a new office park and mixed-use development in North San Antonio. This mixed-use master-planned community encompasses apartments, retail and restaurant space, a hotel and office projects.
KDC formed a joint venture with Rob Schumacher of Schumacher Interests and Steve Sanders, a founding partner of Cardinal Multifamily, to develop Parkline, which is on more than 50 acres near University of Texas San Antonio, off University Boulevard and Interstate 10. The walkable integrated neighborhood will be located on a greenbelt with landscaping that will tie into the Leon Creek Trail System.
“Parkline has been a long time in the making and is about to explode,” said Schumacher. “If you go out there now, you will see new roads and our first phase of apartments and some substantial dirt work for our second phase that will deliver sites for a new Aloft Hotel, Starbucks and a retail building.”
Parkline will accommodate up to 1 million square feet of office projects and upon completion, will have 1,149 apartment and townhome units, a 136-room Aloft Hotel, and 108,000 square feet of retail and restaurant space.
“The intersection of IH 10 and 1604 is the most dynamic development area of San Antonio due to the influx of corporate users and UTSA,” Bill Guthrey, senior vice president of land development with KDC, tells GlobeSt.com. “This project has been two years in the making. University Pass is already in, the first phase of multifamily is underway with summer/fall for Starbucks, Aloft and retail building. We expect full buildout during the next five years.”
Ryan McManigal, KDC senior vice president of development, and KDC’s San Antonio market leader, Pete Van Amburgh, are working together on the project.
“Parkline will check all the boxes for what employers and employees are looking for when choosing where and how they want to work. The integrated and walkable masterplan is going to make this a special place,” said Van Amburgh.
KDC was picked as the developer for this project due to its expertise in developing office buildings and mixed-use projects, as well as its experience as a master developer of live, work, play projects. KDC developed corporate build-to-suit campus projects for companies such as Frost Bank, Liberty Mutual and Toyota. KDC is also the development partner with Weston Urban on the new Frost Tower in downtown San Antonio.
As of last month, the largest signed lease year-to-date took place in the central business district, with WeWork Companies Inc. signing a 75,000-square-foot lease for the top two floors of the Grant Building and the top four floors of the Kress Building. Both buildings on the 300 block of Houston Street had been vacant for years before WeWork’s lease. The company announced its plans back in 2018 to occupy space at the Kress Building by 2020, having about 1,105 members locally when it opens, says NAI Partners’ report.