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Exciting Real Estate Projects Set to Transform San Antonio in 2024

CEO Khai Intela
San Antonio is set to witness a major transformation in its real estate market in 2024, with several exciting projects reaching completion. The city's prospects for the coming year have never looked brighter, as it...

San Antonio is set to witness a major transformation in its real estate market in 2024, with several exciting projects reaching completion. The city's prospects for the coming year have never looked brighter, as it broke into the top 10 on an annual list of real estate markets to watch. Let's explore some of the major development projects that are set to change the face of San Antonio.

Merchants Ice Building

The Texas Research and Technology Foundation (TRTF) is nearing completion of the four-story Merchants Ice Building, which will soon house the offices of Trans Pecos Bank. The adjacent Co-Labs building, a small business incubator space, is also expected to be completed in May. These projects are a testament to San Antonio's growing market and the positive economic growth it has experienced in recent years.

300 Main

Weston Urban is poised to complete the towering 300 Main residential development by the summer of 2024. Designed by Austin-based architecture firm Page, this 32-story building will redefine the city's central business district. This project follows the success of the octagonal Frost Tower, the first high-rise completed in San Antonio in three decades. Weston Urban also has the Continental Block project in the works, with a completion date set for late 2025.

Hospitals

The medical landscape in San Antonio is set to be revolutionized with the opening of several new hospitals. Baptist Health System's campus at Loop 1604 and Wiseman Road is expected to open in the summer, while Christus Santa Rosa-Westover Hills will complete its expanded emergency department and begin work on a new four-story tower. Methodist Healthcare will also unveil its new campus at Loop 1604 and State Highway 151. These developments will enhance healthcare services and cater to the growing needs of the community.

Hemisfair

The vibrant Hemisfair district will see the completion of various projects in the coming year. Construction on the second phase of Civic Park, a 10-story multifamily, and retail development, will commence, with a projected finish date in 2026. Additionally, Zachry Hospitality has broken ground on the Monarch San Antonio, a 17-story hotel that is set to become a landmark in the area.

San Antonio International Airport

While the new terminal at San Antonio International Airport won't be completed until 2028, work is underway on a new ground loading facility. This facility is expected to be completed in the second quarter of 2025, improving the airport's infrastructure and enhancing the travel experience for visitors.

Basila Frocks

Renovation of the historic Basila Frocks building is set to begin in late January or early February. This $3 million project, led by Prosper West, will transform the building into a bustling hub. Overland, the architectural design firm, and the DreamOn Group, the general contractor, will work together to create a space that honors the building's rich history while bringing it into the modern age.

Data Centers

San Antonio's tech infrastructure will receive a significant boost with the completion of two large data centers. Microsoft's SAT40 data center, located on the far West Side, is projected to be completed in September. Additionally, the SAT15 data center in Westover Hills could be finished by late March. These data centers will support the city's growing digital needs and contribute to its technological advancement.

Housing

The housing market in San Antonio is set for continued diversification in 2024. Build-to-rent neighborhoods, tiny homes, multifamily rentals, and the development of permanent single-site housing communities are some of the trends that gained traction in 2023. While home prices are expected to decrease, sales are also projected to decline. However, experts believe that new home starts will stabilize and increase, similar to other Texas markets.

San Pedro Creek

The ongoing transformation of San Pedro Creek into a stunning linear park will reach new milestones in 2024. With Phases 2 and 4.1 now open to the public, the 2.2-mile park is on track to be fully operational in the fall of 2024. The completion of this project will provide residents and visitors with an enchanting green space in the heart of downtown San Antonio.

UIW Founder's Hall

The University of the Incarnate Word is breathing new life into a building that was once used by USAA and Southwestern Bell. The renovation of the 8-story tower into offices and classrooms is expected to be completed in late November, offering a modern and innovative space for education and collaboration.

City Tower

The remodel of the City of San Antonio's City Tower is nearing completion, with only minor "punch list" items left to be finalized in January 2024. The former Frost Bank building now serves as office space for city staff, showcasing the city's commitment to efficient and sustainable urban development.

Alamo Plaza

Alamo Plaza will see significant progress in the coming year. The mission gate and lunette are expected to be completed by summer. Construction on the Alamo Visitor Center and Museum will begin early in the year, with the lower paseo following later in the year. These developments will enhance the visitor experience and celebrate the rich history of the iconic Alamo.

La Villita and Maverick Plaza

The renovation of Maverick Plaza in La Villita has reached its completion, with plans for three new restaurants. This project has revitalized the plaza, adding an outdoor kitchen and kiosk, creating a vibrant space for locals and visitors to enjoy.

Pearl

The Pearl, a beloved cultural and culinary destination, has exciting projects in the pipeline. Stable Hall, a former horse stable, reopens as a music performance space in January. Renovation of the former Samuels Glass building is nearly complete and will house a farm-to-market grocery store and four restaurants. Oxbow, the Pearl's development division, also has ambitious plans for two multifamily projects, with groundbreaking set for 2024.

San Antonio is poised for a remarkable year of growth and development in 2024. With these major real estate projects, the city will continue to flourish and attract attention on a national scale. The completion of these ventures will not only enhance the city's skyline but also provide new opportunities for employment, entertainment, and a higher quality of life for its residents.

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