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$500M-Plus Plan Emerges for 46-Acre Buy

SAN ANTONIO-CG Financial Group is working on the final design plan for a residential, retail and office development in the far northern sector.

By Amy Wolff Sorter | Updated on July 20, 2006

(To read more on the multifamily market, click here.)

SAN ANTONIO-A Brownsville, TX-based investment group is preparing to turn 46 acres into a mixed-use development. The all-in development cost is estimated at $500 million to $600 million.

Adrian Gracia, CEO and founder of CG Financial Group, says the final design for the as-yet unnamed development along La Cantera Parkway should be done in a month. “After that,” he says, “we can start talking numbers and specific development.” Gracia’s firm has just gotten approval on a preliminary site plan from San Antonio City Council.

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