As gas prices soar and people become more protective of their personal time, the
issue of ‘commuter time’ is now a factor as homebuyers and renters choose
neighborhoods for their first or next home. San Antonio is showing new growth
in neighborhoods closer and in the downtown area.
San Antonio Mayor Julian Castro has included a focus on education as one of his 11 priorities of the SA2020 campaign. The vision includes highlighting the goal pursuing higher education. Most prominent in the downtown area is the College Cafe, a city-wide resource center designed to assist students in pursuing higher education goals by providing them free assistance in selecting, preparing and applying for college. From Trinity University to The University of the Incarnate Word to The University of Texas at San Antonio (UTSA) to St. Phillips and San Antonio College and more, building the city’s
focus on education now requires building a renewed interest in the inner city housing factor.
The variety of housing in the greater downtown area is fast finding new residents from the
suburbs. Just north of downtown is Alta Vista, Beacon Hill, Mahncke Park, Monte Vista and Laurel Heights; just east of downtown is Dignowity Hill, Government Hill and Highland Hills; just south of downtown is Lavaca, King William and the emerging activity on South Flores, Cevallos Street and the old Victoria Courts/Hemisfair area; just West of downtown is a growing commercial corridor including UTSA and the University Health Center Downtown along with tremendous medical/hospital growth.
Many of these neighborhoods are still in the affordable home purchase range with many great values in the $100-$200K range. Lots are larger and many homes cannot be
demolished, but adding additions and retro- fitting the homes with modern
conveniences are very common. Adding central air and heat is the most common
need in many of these historic homes, but adding square footage-especially an additional bathroom-is a big priority. With the need for high-end electronics, security systems, etc. electrical wiring is often a necessity.
One of the goals of the SA2020 is to increase downtown housing units by 5000 to include
mixed-income and student housing. In 2000, one in ten San Antonio workers, worked downtown. By 2020, the city’s goal is to increase downtown employment to 25% of the workforce. One of the factors in bringing more residents to the downtown area is to create affordable housing and more convenient transportation and parking. The B-Cycle program, an easy to use bicycle rental service, has proven to be very successful in just five months it has been in operation. Creating more green space/parks and more user friendly pedestrian routes is already showing up in the downtown area.
For those who want to live in the heartbeat of the downtown area, both apartments and condominiums are available in a variety of price ranges. Nearly 30 apartment/loft spaces are available in the downtown area. The newest to open are the units at twelve2wentyone (1221) Broadway just across from the San Antonio Museum of Art on the San Antonio River. Soon to open in the Fall of 2011 are the Cevallos Lofts in the Southtown area. For a full review of available downtown rental properties visit http://downtownsanantonio.org/
The website includes photos of each property with square footage, price and amenity information.
As buyers transition to downtown living, renting before you buy is a smart strategy to determine how you function in a smaller space with limited parking and ‘downtown noise’. For condo buyers ready to commit to the downtown zip codes, the options are limited but slowly, developer interest is increasing. The median sales price is approximately $275,000 with units starting in the mid-$100′s and range to almost $4 million. Condos are as large as 3000 square feet and as small as 400 square feet. All properties have a monthly assessment to cover the cost of amenities. Depending on the location and developer, amenities can range from 24 hour security/concierge service to simply reserved parking spaces. Condos in the downtown area include the Vidorra on the eastside, La
Cascada on the west side, Judson Candy Factory Lofts and South End Lofts on the Southside and the new Alteza built within the Grand Hyatt Hotel. Other developments are
located in King William, coming to The Pearl and sprinkled in smaller buildings throughout downtown.
Variety is certainly available in the greater downtown area. Most of the fun is researching the options that best fit the lifestyle buyers desire in transitioning to urban daily living.
