Six mixed-use lots on prime River Walk real estate have been put up to auction in what could be the biggest downtown real estate deal in years, if not decades.
The lots span across six acres of land between Lexington Avenue and West Martin Street on the river, and have been marketed by KMD Studley as potential office, hospitality, entertainment, multifamily, retail and parking developments.
Offers for the lots are due by April 17, 2015, and the sites have already garnered a significant amount of interest from big-name developers with worldwide reputations.
While the sites are being marketed for specific purposes, Marshall Davidson, KMD's managing principal, said it was up to the buyer or buyers on which direction they want to take. Regardless of that decision, whatever development ends up taking shape has the ability to transform downtown's image and to set the stage for future residential, commercial and retail projects throughout the area.
"I have heard time and time again that there is not enough 'there' there in San Antonio," Davidson said of national developers considering a move to the city. "This is a ground-up development opportunity across six acres. There is nothing more than half-acre sites now and even then, there are only small, difficult-to-develop sites available..."Six mixed-use River Walk sites up for bid, attracting developers worldwide
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