August 1, 2019
JMJ Development is joining forces with the San Antonio Housing Authority to propose a 24-story, $63.4 million, 250-unit apartment tower in downtown San Antonio. Once the St. Mary’s Tower goes through the approval process, it would be built next door to JMJ’s 290-foot Villita Tower.
St. Mary’s Tower, at 126 Villita St., would be built on land owned by the San Antonio Housing Facility Corp., a SAHA affiliate, which would be part of a 75-year ground lease. The project would have seven stories of parking, and 17 stories of apartments on top, consisting of one- and two-bedroom units. Half of the units are being reserved for those earning less than 80% of the area median income.
The project will go before SAHA’s board for final approval on Aug. 1, 2019. The project would also need to be approved by the Historic Design and Review Commission before construction can start.
It’s time to register for this year’s Connect Texas Multifamily Conference on Aug. 15! For information and to register, click here.
For comments, questions or concerns, please contact Amy Sorter