GenCap to Build San Antonio Multifamily Project

Genesis Capital Partners (GenCap) filed plans to build a $48 million multifamily project on a 16-acre lot in the Westover Hills area of San Antonio. GenCap was reported to have paid $5.5 million for the land, which according to GenCap’s Mark Johnson, is not ideal to build on, “It’s one big rock hill. There’s about six inches of dirt and the rest of it is rock. There’s a lot of dirt work required to get this project going.”

Regardless, GenCap is set on this project because of Westover Hills’ growing job market. “We follow jobs,” Johnson said, “We look to where the jobs are growing and where there’s other commercial development.”

The developer aims to start construction in January with a completion date in early 2025. Park at Westover Hills, as it’s called, will offer studios, one- and two-bedroom units and townhomes between $1,600 and $1,700 per month — with 372 units in total. The group developed the Park at Lakeline in Austin (pictured).