High interest rates may be a concern, but according to the San Antonio Business Journal, one apartment developer is still able to move forward with their plans. Drew Caraway of Casey Development shares that they have seen a decrease in building costs over the past six to nine months.
Casey Development has announced their intention to construct 360 new apartment units in the Westover Hills area. The location will be at Lakeside Parkway and Ingram Road, conveniently situated near popular destinations such as Hyatt Regency Resort & Spa, Lackland AFB, Port San Antonio, and Methodist Healthcare’s latest medical campus spanning 74 acres.
The development will consist of a mix of studio apartments and one-, two-, and three-bedroom units. Construction is expected to begin in Q1 of 2024 with an estimated completion date for all units by 2026.
Leading the design for this project is Dallas-based Humphreys and Partners Architects who will also utilize their own contractor for construction purposes.
