(SAN ANTONIO) – Hines, the international real estate firm, announced it will develop a four-story, 380,000-square-foot, luxury multifamily project within The RIM retail power center. The development will be Hines’ first multifamily project in San Antonio and its eighth in Texas.
Located on 11.4 acres at the southwest corner of Worth and La Cantera Parkway in the northwest submarket of San Antonio, the development will offer convenient access to San Antonio’s major thoroughfares, including Interstate 10 and Loop 1604, which connect to the city’s primary employment centers.
“Hines is very familiar with The RIM, having owned the retail center since 2014,” said Hines Managing Director Chris O’Neill. “When we found the opportunity to pursue a multifamily development within The RIM community, we jumped at it. The area’s evolving amenities, local economics and the objectives of our investors are all lining up nicely. We are excited about this first step into the San Antonio multifamily market.”
The project, designed by Meeks + Partners, will feature resort-style amenities including: a centralized leasing center, clubhouse, collaborative work room, fitness center and yoga studio, two-tiered pool with cabana grill, game room, dog park with wash area, tree-lined entries, and “tuck-under” garages that will enable residents to access their units directly from their own private garage. Units will range from 682 to 1,479 square feet, and include private balconies and optional storage.
“The RIM is a popular destination for retail and nightlife and provides an exciting community for residents. People want to live where they can eat, shop and play, and this community does just that,” said Ryan Meeks, AIA, Partner with Meeks + Partners.
With a Walk Score of 43—the highest for any multifamily project in the northwest submarket—the site will connect directly to The RIM power center through landscaped, pedestrian-friendly streetscapes, providing convenient access to more than 1.8 million square feet of retail, entertainment and dining options.
“Walkability is the most requested neighborhood characteristic for a growing number of individuals,” said Hines Senior Managing Director Kevin Batchelor. “With exciting projects like The RIM multifamily development, our firm is meeting that request.”
Residents will also enjoy the close proximity of nearly 20 miles of connected parks and trails, destination entertainment such as Topgolf, Six Flags Fiesta Texas and world class golf courses, all within a short drive.
Construction on The RIM multifamily project is slated to begin in the first quarter of 2018 with occupancy in spring 2019.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 201 cities in 21 countries. Hines has approximately $100 billion of assets under management, including $54.5 billion for which Hines provides fiduciary investment management services, and $45.5 billion for which Hines provides third-party property-level services. The firm has 113 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,262 properties, totaling over 414 million square feet. The firm’s current property and asset management portfolio includes 529 properties, representing over 213 million square feet. Visit www.hines.com for more information.
About Meeks + Partners
For more than 40 years, the talents of Meeks + Partners architects have consistently offered a wide array of innovative planning and design services that have shaped the practices and design standards in multifamily architecture. Our expertise comes from a team of leaders who are passionately involved with each project from the time the first line is drawn on a site plan. Visit us at www.meekspartners.com.