"We saw a need in the market and pursued the project and put it together," Kerry W. Kirby, president and CEO of New Orleans-based Intradel, tells GlobeSt.com. He says the location at 3110 Thousand Oaks Dr., north of San Antonio International Airport, is "terrific."
Intradel is the project's developer in a joint venture with Commonwealth Housing Corp. As an affordable housing development, rents will range from $500 a month for a one-bedroom unit to $950 per month for three bedrooms. The $23-million project been financed through tax-exempt and taxable bonds.
Intradel's other Texas projects are in Dallas and Fort Worth, where it is turning historic properties into lofts. The Main Street Lofts in Fort Worth are in a 1921 building near the CBD. The Thanksgiving Square Lofts in Dallas will sit above a 27,000-sf US Post Office set to open in Dallas' 1934 federal courthouse and former post office.
The San Antonio project, on the other hand, is coming on line from the ground up. "We've got all the pads built and the plumbing's put in and should be starting with concrete real soon," Kirby says. Houston-based Greystar Construction is the general contractor.
White Rock features two- and three-story walkup garden-style units, with sizes ranging from 548 sf to 1,313 sf. Standard features include oven ranges, microwave units, washer/dryer connections, ceiling fans, walkout balconies and 9-foot ceiling heights. Some units feature attached garage parking and carport spaces.
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