Windcrest EDC Locks Up Another 111 Prime Acres

WINDCREST, TX-The city’s economic development corporation has laid claim to another 111 acres for its large-scale development plan. Sources say the acreage, north of San Antonio, has sold for $14 million to $16 million.

Kit Corbin, senior marketing consultant in Grubb & Ellis Co.’s San Antonio office, says that, in addition to the just-closed deal, Windcrest Economic Development Co LLC already has annexed or acquired up to 303 acres along Interstate 35 between Walzen and Eisenhauer roads. Late last year, local media reported the Windcrest EDC bought for a development partnership with renowned architect Andres Duany of Miami-based Duany Plater-Zyberk & Co., the mastermind of Seaside, FL and other celebrated New Urbanism communities. Like Duany’s other developments, the Windcrest land is earmarked for residential and commercial build-out.

Corbin and Grubb & Ellis associate Brian Allison represented the seller, NFP Partnership of Austin. Corbin tells GlobeSt.com that the land has prime frontage along Interstate 410, which is important to the City of Windcrest. He says the land’s development future is undecided at this time. “They’re probably still trying to get the ‘i’s’ dotted and the ‘t’s’ crossed right now before beginning to consider a specific plan,” he says.

Corbin says the seller brought the land to market with the idea that it would sell in pieces through one-off transactions. He acknowledges he and Allison talked to a number of developers for potential uses. “We were talking to motel people, churches, restaurateurs, retailers. You name it, we were talking to them,” Corbin adds.

When Windcrest EDC made an offer for the land, Corbin says he wasn’t about to refuse. “Buying up all of the land began as a protective move for the city to protect borders and prevent sprawl,” he adds. “But now they control a lot of land, the zoning and what goes on the land.”