Carlyle Group Partners with Apartment Developer

Private equity company Carlyle Group is partnering with SC Bodner Co. Inc. in developing a $40 million, 220-unit apartment building just north of downtown San Antonio. The property is being built at 120 W. 9th St. in what is known as the Museum Reach – Urban Segment. Museum Reach is part of San Antonio’s Riverwalk district.

The apartment complex is being built on three land parcels. The largest parcel once held the former Turner Club, a bowling alley that opened in 1940, but moved to Judson, TX in 2012 because of increasing property taxes.

Construction on the complex will begin shortly, and is expected to take 20 months to complete.

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