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Friedrich Lofts, Rendering, San Antonio

March 26, 2018 Comments Off on Provident Gets Nod For 347-Unit Friedrich Lofts Views: 2800 San Antonio, Texas News

Provident Gets Nod For 347-Unit Friedrich Lofts

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Dallas developer Provident Realty Advisors received a nod from the San Antonio City Council to redevelop a site that once housed the Friedrich Air Conditioner Company. The project, dubbed Friedrich Lofts, is a $65-million, 348-unit apartment complex of which half the units will be affordable. A city board agreed to start negotiating an incentive package worth up to $1.7 million for the developer.

The site on East Commerce Street includes the original 1923 building for the air conditioning company, as well as others added on through 1956. The city council approved Provident Realty’s request to remove the local historic designation from the non-original buildings. The 1920s building is not part of the proposal, nor pending sale to the developer. If the design and funding are approved, the other buildings will be demolished for the apartment complex.

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