SAN ANTONIO – (Realty News Report) – Embrey Partners, a multifamily developer based in San Antonio, announced that is has closed on financing to construct 338 apartment units adjacent to a redevelopment of the historic Borden Creamery property in San Antonio.
Wells Fargo is financing the Embrey project which will be near US Highway 281 adjacent to the Pearl district.
Embrey’s multifamily property plan includes San Antonio River improvements and promotion of walkable neighborhoods with sidewalks and an elevated pedestrian bridge that connects the Tobin Hill community to the river and the Brackenridge Park Trail.
“We have worked collaboratively with Bexar County and the City of San Antonio, the Tobin Hill Neighborhood Association and the San Antonio River Authority to ensure a careful design that thoughtfully integrates our apartment community into the context of the surrounding community,” said Jimmy McCloskey, Executive Vice President of Development for Embrey.
Multifamily community construction on the 5.1-acre site is scheduled to begin in July. Project completion is scheduled for July 2023.
The art deco Borden building, which will be preserved in a separate project by AREA Real Estate. will include 60,000 SF of office and retail commercial space.
Since 1974, Embrey has developed more than 41,000 apartments and over 6 million SF of commercial property. Embrey has 6,000 units under construction or in development.