SAN ANTONIO (May 30, 2014) – Bexar County Judge Nelson Wolff and representatives from the City of San Antonio, the NRP Group LLC and Lifshutz Companies LP, gathered to announce the groundbreaking of downtown’s newest mixed-use development, Big Tex. As the newest addition to San Antonio’s growing portfolio of urban housing, Big Tex presents unique opportunities in revitalizing the city’s core.
“Residential investment in our city center is vital to attracting more businesses, economic advancement and continued urban renewal,” said San Antonio Mayor Julián Castro.
Located within the Blue Star Arts Complex, the 336-unit apartment community will offer a variety of studio one, two and three-bedroom floor plans, 7.5 acres of river front property and 6,000 square feet of ground floor retail and parking. This unique blend of residential and public space provides a fresh take on urban living, along with convenient access to Southtown and the King William Historic District.
“Big Tex is not only an opportunity for more people to make the Blue Star community their home, but for new, local businesses to take root as well,” said Dan Markson, Sr. Vice President of Development at the NRP Group LLC.
Big Tex will enhance the urban experience by providing new outlets for commercial and residential growth. Formerly the site of Big Tex Grain Company, the modern, upscale multifamily development will join a list of properties that revive older areas of downtown and draw in more residents.
“With Big Tex, we’re converting older, unused space into a new thriving community,” said James Lifshutz, CEO of Lifshutz Companies LP. “This is the type of rebuilding and investment we hope to see throughout all of San Antonio.”
The City of San Antonio will provide over $5 million in tax incentives for the area’s growth and improvement. To help foster the expansion of Mission Reach, Bexar County will also provide tax incentives. Big Tex is expected to be completed by Spring 2016.
About The NRP Group LLC
The NRP Group is a full-service developer, general contractor, and property manager providing a broad range of services. From start to finish, every development NRP Group works on is carefully contemplated and executed to maximize investment return, cost efficiency, productivity and satisfaction. The NRP Group has been recognized as NAHB’s 2009, and 2012 Multifamily Development Firm of the Year and has been ranked number one in the Top 50 Affordable Housing Developers for 2007, 2008, 2009 and 2011 by Affordable Housing Finance. The NRP Group LLC has offices in San Antonio, Texas; Cleveland, Ohio; Phoenix, Arizona; Raleigh, North Carolina, devoting significant resources to providing high-quality, affordable housing to residents. For more information visit www.nrpgroup.com.
About The Lifshutz Companies LP
The Lifshutz Companies is a family-owned real estate and investment group engaged, since 1950, in mortgage lending, land development, and in the development, ownership and management of a wide range of product types in Texas. The companies are run by James Lifshutz who followed his father and grandfather, Bernard and Sam, respectively – and who have played, collectively, a leading role in the redevelopment and revitalization of San Antonio’s center city for the past 50 years.
A Model City for all America: San Antonio
San Antonio is a model city for the new face of America—a diverse, progressive and globally competitive city with a solid vision for national and international economic development. In 2012, San Antonio was named an All--America City by the National Civic League. The City of San Antonio maintains a strong financial position with a “AAA” general obligation bond rating from all three major rating agencies. The Milken Institute has ranked San Antonio No. 1 on its Best--Performing Cities list. As the seventh-largest city in the United States, San Antonio is experiencing solid economic growth in 21st century industries such as bioscience and healthcare. Biotech companies and healthcare systems in San Antonio contribute billions to the local economy. The Aerospace industry remains a dominant economic strength in San Antonio with the presence of several aviation and aerospace corporations, including the military. The military has had a significant relationship with San Antonio for more than 200 years and is home to several military commands. The city is also a cybersecurity hub; nationally recognized as a leader in the field of information security. San Antonio is positioning itself to be at the forefront of the New Energy Economy in the United States, committed to investing and creating employment opportunities in green industries. The travel industry also remains a consistent growing economy for the city, as millions of people visit San Antonio on a yearly basis. For more information, visit www.sanantonio.gov.