Friedrich Lofts is a $92 million joint project between Dallas-based Provident Realty and San Antonio Housing Trust that will create 358 apartments at 1617 E. Commerce St., San Antonio, TX 78205. The Lofts will offer studio, one-bedroom, and two-bedroom units once complete. Lloyd D. Nabors Demolition is responsible for tearing apart most of the old facility, according to Express-News reports.
The Friedrich Lofts project will include 347 apartments.
Courtesy of Provident Realty Advisors
Basil Koutsogeorgas, director of multifamily development with Provident Realty, told MySA that 50% of the units will be affordable based on residents who earn 80% and 60% of the area median income. That range for a family of four is between $49,740 and $66,300 annually, according to the U.S. Department of Housing and Urban Development.
The rest of the units will be priced at market rate. Those rents would range from $767 to $1,800 per month, according to an Express-News report.
Amenities will include a pool with a courtyard deck and some grills, typical of class A apartments.
The hold up
This project has been in the works since 2018 with plans to redevelop the Friedrich site held up by financing and layers of approval, Koutsogeorgas says. Previous reporting on the project from the Express-News reveals that an investor backed out of the project at one point, an issue that has since been resolved with a loan from the U.S. Department of Housing and Urban Development, Koutsogeorgas says.
Demolition on the complex began last week but it was the approval of that demolition that led to contentious protests from council members in June 2021.
Then District 5 Councilwoman Shirley Gonzales — who is also a former board member of the SAHT Public Facility Corp. — criticized council members at that June meeting, saying the push for affordability in a development on the Northside over one in the Eastside was “just flat-out racism,” Express-News reported. The demolition approval was delayed, but then approved days later by the SAHT board despite residents’ criticism.
The building at the corner of Commerce and Olive streets, with the “Friedrich Refrigerators” sign, is not part of the Friedrich Lofts project.
William Luther /San Antonio Express-News
The demolition
The Texas Commission on Environmental Quality gave Provident Realty approval to begin tear down of the vertical structures of the Friedrich complex, but developers still need TCEQ environmental testing and review as well as removal for the slabs. This abatement process could take a year, Koutsogeorgas says, before construction could begin.
The part of the complex that has the “Friedrich” sign on the roof is not owned by Provident Realty and will remain intact. Koutsogeorgas says that revitalization of the area was always the goal with this project.
“All I can say is we’re just thrilled to finally get started,” Koutsogeorgas says.
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