Westover Hills Draws Another Multifamily Community

It’s an area populated with hospitals, hotels and office. The Westover Hills area of San Antonio is growing and the commercial real estate community is responding in kind. Dallas-based GenCap Partners is starting work on The Park at Westover Hills apartment complex. When finished, the project will deliver 372 units between 14 buildings along the Texas State Highway 151 frontage road just south of Wiseman Boulevard, with average rents at about $1,080.

The San Antonio Business Journal reports that GenCap will use a combination of debt and equity to finance the project, which is expected to cost about $75 million. The firm purchased the land in June 2022. Dallas based Rampart Multifamily is the general contractor. The 365-unit Royalton @ Westover Hills and the 5-story high Atlantica at Westover Hills are in various stages of development.