SAN ANTONIO – Editor’s note: This story was published through a partnership between the San Antonio Business Journal and KSAT.
The typical drive from the airport to downtown San Antonio will soon to change forever once the vision of local developers comes to fruition.
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San Antonio-based Embrey Partners Ltd. secured financing of an undisclosed amount with Wells Fargo Bank April 3 to build a 338-unit apartment complex along Route 281, according to a deed of trust filed with Bexar County.
The Borden Park apartment project at 815 East Ashby St., to be built on what is currently a self-storage facility, is part of the revitalization of the adjacent former Borden Creamery property.
The property had been on the eyes of local investors from some time, Jimmy McCloskey, executive vice president for development for Embrey, told the Business Journal.
Embrey finally acquired the property late 2019 after more than a year of talks with the storage facility’s owners. Serving both as a developer and general contractor, the company saw an opportunity to revitalize a property with high visibility, given its close proximity to the highway, Pearl and the St. Mary’s strip.
“To me, it really is the front door of the city,” McCloskey said. “It is what you see before even getting to the Pearl district. As you are driving to downtown from the airport, you pass this, and it’s kind of an eyesore.”
Area Real Estate, led by local developer David Adelman, will redevelop the former dairy plant built in 1929 into a 60,000-square-foot office and retail space. Adelman’s firm recently completed the ’68 near Hemisfair Park downtown and is known for other historic renovations such as the Maverick Apartments and the Burns Building downtown.
“In my opinion, no one does it better in terms of revitalizing old buildings and historical structures,” McCloskey said. “It was a natural call to reach out to him.”
As for the apartment complex, McCloskey said the design will incorporate features of the Borden building’s art deco architecture.
Read the full story at the San Antonio Business Journal.