Construction Nears on $320M, 114-Acre MPC
Following several years of bankruptcy litigation and planning, a start date for construction on University Village, a 114-acre master-planned community in San Antonio, has been set. Austin developer Steve Sanders has partnered with Robert Schumacher, a California developer, on the $320 million project at Loop 1604 and Interstate 10. The developers will launch construction on the $51 million first phase in November 2017.
The first phase will be a 348-unit multifamily property that will be developed by Provident Realty Advisors of Dallas. Provident will also develop retail on the land, which is east of the University of Texas at San Antonio.
Upon the five-year buildout, the master-planned community will have three office buildings totaling 330,000 square feet, 995 apartment units and 112 townhomes, along with 20 acres of retail and plenty of parkland.
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