The Westover Hills area of San Antonio is experiencing growth, with commercial real estate responding in kind. Dallas-based GenCap Partners has begun work on The Park at Westover Hills apartment complex, which will offer 372 units between 14 buildings along the Texas State Highway 151 frontage road just south of Wiseman Boulevard. Average rents are estimated to be around $1,080 per month.
GenCap plans to finance the project through a combination of debt and equity and purchased the land in June 2022; Rampart Multifamily serves as general contractor for this $75 million endeavor. Additionally, Royalton @ Westover Hills (365 units) and Atlantica at Westover Hills (5 stories high) are both currently under development in various stages.
This influx of multifamily communities into San Antonio’s bustling Westover Hill area demonstrates that commercial real estate is actively responding to population growth within this region – an exciting sign for future prospects!
