The development arm of Pearl owner Silver Ventures has expanded its holdings across the San Antonio River from the redeveloped brewery where a slew of apartments are planned.
An affiliate of Oxbow Development Group in late December bought property along Newell from Elmira Park Properties LLC, deed records show.
The purchase includes a triangular site bounded by Newell, East Park, East Elmira and a sliver of vacant land across from Newell.
It’s unclear what Oxbow paid for the properties, which amount to about 0.8 acre. The Bexar Appraisal District valued them at nearly $1.5 million combined last year. Oxbow was previously known as Pearl Build.
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The company has not determined its plans for the property, Oxbow Director of Development Omar Gonzalez said.
Silver Ventures now owns 10.4 acres across the river from Pearl, appraisal records indicate.
Its latest acquisition is across from an apartment complex Oxbow is building at 1126 E. Elmira St. When completed, it will include about 263 apartments, commercial space and parking.
Oxbow also plans to raze an industrial building at 102 E. Josephine St. and replace it with 250 to 275 market rate apartments along with parking, office and retail space and a rooftop bar. Construction could begin in 2024 and wrap up in late 2026 or 2027.
The Pearl Stable event venue is being converted into a concert locale with a biergarten dubbed Stable Hall, and the Samuels Glass Co. building at 221 Newell Ave. is slated to be turned into a market with restaurants, offices and storage.
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A bevy of other developments are under construction or planned around Pearl in the Tobin Hill neighborhood.
Across from Hawthorne Academy, construction is underway on a complex with more than 250 apartments developed by the Lynd Co. of San Antonio and Opportunity Home San Antonio.
Local developer Embrey Partners is building more than 300 apartments at 847 E. Ashby Place, and Area Real Estate, also based in San Antonio, is converting the former Borden Creamery warehouse into commercial space.
Austin-based Sabot Development, Houston-based Urban Genesis and Harris Bay, which has offices in San Antonio and California, are planning to build more than 1,400 apartments in the neighborhood.
madison.iszler@express-news.net