SAN ANTONIO—Forward-thinking investment in downtown San Antonio real estate is a non-zero-sum game that is mutually beneficial, Emilio Guzmán, chief of investor relations and executive vice president of Houston-based DC Partners, tells GlobeSt.com. Such was the thinking in June 2016, when DC Partners closed on the property at 123 Lexington Ave. in downtown.
DC Partners' bullish stance on San Antonio comes with good reason. It is a dynamic city with the kind of diverse economy that signals growth and prosperity. San Antonio boasts the headquarters of two Fortune Global 500 and seven Fortune 1000 companies. Its city government is focused on attracting and growing businesses that foster innovation and lure talent in key industries that complement the region's strengths—aerospace, biosciences and health care, defense, energy, information technology and cybersecurity, and manufacturing, says Guzmán.
DC Partners wasn't the first company to recognize the San Antonio market's enormous investment potential. However, it is leading the way in innovative financing as the first developer to use the federal EB-5 program by attracting international investors to a high-end downtown residential project—The Arts Residences at the Thompson Hotel.
The federal EB-5 program helps foreign investors obtain US citizenship by investing in profit-yielding, job-creating commercial real estate investments in America. It provides investors and their families with the freedom to live, work, study and retire anywhere in the US, an expedited permanent green card process, US citizenship for investors' spouses and children under age 21, and other benefits.
The Arts Residences and the Thompson San Antonio Hotel are an EB-5 investor's dream, Guzmán observes. Moreover, the $118 million, 20-level mixed-use hotel-condominium tower on the San Antonio River Walk is set to bring the first luxury living accommodations to the downtown area.
Located in San Antonio's performing arts district, this 337,000-plus-square-foot mixed-use development will include 66 luxury-living condominiums atop San Antonio's first Thompson Hotel and a restaurant. Developed by DC Partners and San Antonio-based Universal Service Group, and designed by Powers Brown Architecture, the project is scheduled to be completed in 2019. Centrally located in San Antonio and positioned with a view across the River Walk toward the Tobin Center for the Performing Arts, this project will be ideally located to serve the needs of the north River Walk, central business district, residential development zone and the surrounding areas.
The Arts Residences and Thompson San Antonio development will create approximately 1,319 jobs, creating a safe cushion over and above the 880 jobs required by the EB-5 program for a project of this size, says Guzmán. The Arts Residences at the Thompson Hotel is already 20% presold, indicating surging interest in condominium living in the downtown market.
The project has the support of San Antonio elected officials, including Mayor Ron Nirenberg and Bexar County commissioner Tommy Calvert, who see it as a way to augment activity in the downtown area and fill an upper-income housing niche that will be enticing to business professionals. With The Arts Residences at the Thompson Hotel, DC Partners and Houston EB-5 are replicating its successful EB-5 blueprint at ground zero of San Antonio's growth and investment center—a solid win for Houston EB5 investors, says Guzmán.
SAN ANTONIO—Forward-thinking investment in downtown San Antonio real estate is a non-zero-sum game that is mutually beneficial, Emilio Guzmán, chief of investor relations and executive vice president of Houston-based DC Partners, tells GlobeSt.com. Such was the thinking in June 2016, when DC Partners closed on the property at 123 Lexington Ave. in downtown.
DC Partners' bullish stance on San Antonio comes with good reason. It is a dynamic city with the kind of diverse economy that signals growth and prosperity. San Antonio boasts the headquarters of two Fortune Global 500 and seven Fortune 1000 companies. Its city government is focused on attracting and growing businesses that foster innovation and lure talent in key industries that complement the region's strengths—aerospace, biosciences and health care, defense, energy, information technology and cybersecurity, and manufacturing, says Guzmán.
DC Partners wasn't the first company to recognize the San Antonio market's enormous investment potential. However, it is leading the way in innovative financing as the first developer to use the federal EB-5 program by attracting international investors to a high-end downtown residential project—The Arts Residences at the Thompson Hotel.
The federal EB-5 program helps foreign investors obtain US citizenship by investing in profit-yielding, job-creating commercial real estate investments in America. It provides investors and their families with the freedom to live, work, study and retire anywhere in the US, an expedited permanent green card process, US citizenship for investors' spouses and children under age 21, and other benefits.
The Arts Residences and the Thompson San Antonio Hotel are an EB-5 investor's dream, Guzmán observes. Moreover, the $118 million, 20-level mixed-use hotel-condominium tower on the San Antonio River Walk is set to bring the first luxury living accommodations to the downtown area.
Located in San Antonio's performing arts district, this 337,000-plus-square-foot mixed-use development will include 66 luxury-living condominiums atop San Antonio's first Thompson Hotel and a restaurant. Developed by DC Partners and San Antonio-based Universal Service Group, and designed by Powers Brown Architecture, the project is scheduled to be completed in 2019. Centrally located in San Antonio and positioned with a view across the River Walk toward the Tobin Center for the Performing Arts, this project will be ideally located to serve the needs of the north River Walk, central business district, residential development zone and the surrounding areas.
The Arts Residences and Thompson San Antonio development will create approximately 1,319 jobs, creating a safe cushion over and above the 880 jobs required by the EB-5 program for a project of this size, says Guzmán. The Arts Residences at the Thompson Hotel is already 20% presold, indicating surging interest in condominium living in the downtown market.
The project has the support of San Antonio elected officials, including Mayor Ron Nirenberg and Bexar County commissioner Tommy Calvert, who see it as a way to augment activity in the downtown area and fill an upper-income housing niche that will be enticing to business professionals. With The Arts Residences at the Thompson Hotel, DC Partners and Houston EB-5 are replicating its successful EB-5 blueprint at ground zero of San Antonio's growth and investment center—a solid win for Houston EB5 investors, says Guzmán.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.