Oxbow Secures Approval for Tobin Hill Mixed-Use Project in San Antonio

Oxbow Greenlit for Tobin Hill Apartments, Office Space
CRE Market Beat Take
Entitlement approval adds a material office and multifamily pipeline asset in Tobin Hill, which local owners and lenders should factor into future leasing and absorption assumptions.

A San Antonio planning board has cleared the way for a new mixed-use development in the Tobin Hill neighborhood, advancing one of the area’s next phases of growth. Oxbow has received approval for a project at 111 Isleta that combines office and residential uses, along with future retail space tied to nearby Pearl. The decision moves the proposal from concept into the entitlement-approved pipeline, positioning Oxbow to begin predevelopment work ahead of its planned construction start.

The approved plan calls for 86 apartments alongside 140,000 square feet of office space at the Isleta site. The project is designed as a blend of housing and workplace uses, reflecting ongoing demand for walkable, mixed-use environments near established destinations such as Pearl and the Tobin Hill corridor. While detailed design, leasing, and tenant plans have not been disclosed, the mix of multifamily and office space signals a sizable new addition to the local commercial real estate inventory once completed.

In addition to the Isleta building, the San Antonio Business Journal reports that Oxbow is planning a third component to this phase of activity: 10 new retail buildings on Pearl’s campus. Those planned retail structures would expand the commercial footprint of Pearl, further layering in shopping and service options around the district’s existing mix of uses. Specific square footages, tenant lineups, and delivery timelines for the retail buildings have not been provided, but the plans underscore Pearl’s continued evolution as a regional destination.

Oxbow expects to break ground on the Isleta development by the end of 2026, with delivery targeted for either 2028 or 2029. That multiyear schedule reflects the typical lead time required for large mixed-use projects, from detailed design and permitting to construction and lease-up. The staggered timing also means that the new office and residential space will likely come online in a different market environment than today, although no leasing or pre-commitment information has been released.

The Isleta project builds on Oxbow’s long-running presence in and around Pearl and Tobin Hill. The firm recently delivered the Coopers Row apartments, adding new residential capacity to its portfolio in the area. It is also working on the Mira apartment project and the Perlen House hotel, extending its multifamily and hospitality footprint near Pearl. These efforts collectively illustrate a sustained strategy focused on mixed-use, infill development anchored by the success of the Pearl district.

Beyond Pearl and Tobin Hill, Oxbow is in the early stages of additional mixed-use developments in Southtown and New Braunfels. While details on those projects remain limited, their mention highlights that the company is pursuing a broader set of urban and near-urban sites across the region. Oxbow’s history in the Pearl historic district spans more than two decades, including its role in repositioning the former Pearl brewery into a mixed-use project, a transformation that helped catalyze the district’s current identity as a prominent live-work-play environment.

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