Description

Jones Lang LaSalle Capital Markets Group (“JLL”) is pleased to offer the opportunity to purchase ±13.868 acres at Westover Hills (the “Property” or “Site”) in the increasingly popular far West submarket of San Antonio, Texas. The Site is designed and entitled for a 320-unit multifamily development with an average unit size of roughly 909 SF, with plans ready and available from the sellers. This Site is located about 15 miles west (or an 18-minute drive) of San Antonio’s CBD at Texas State Highway 151, Nationwide Drive, and Rogers Road, directly adjacent to the Hill Country Golf Club and across the Highway from SeaWorld. This Property offers tremendous accessibility to Northwest San Antonio’s major employment and entertainment centers. The northwest and west side of San Antonio are home to major employers and economic anchors such as the La Cantera Resort & Spa, Six Flags Fiesta Texas, and SeaWorld San Antonio. Northwest San Antonio is also home to the medical district, the San Antonio Aquarium, and other attractive livable suburbs such as Helotes, Boerne, and Fair Oaks Ranch, highly desirable submarkets that serve major area employers. Some of these larger employers in the San Antonio metro include Microsoft, USAA, Valero, Aetna, QVC, Wells Fargo and more all within 15–20-minute drives from the Westover Hills Site. The Property is zoned MF-33 allowing 33 units per acre on the 13.8-acres, allowing for the potential to build additional units on the site.

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Attributes

Land area gross

13.87 acres

Zoning

MF-33

Potential Use

Multifamily Development Land

Media

Investment highlights

PREMIER MULTI-FAMILY DEVELOPMENT SITE WITH LARGE AMOUNT OF ENTITLEMENTS

• The ±13.86-acre site is fully designed for 320-units (four- and fivestory garden-style) and has MF-33 zoning, allowing for up to 33 units per acre to be built.

• The Property is about 2.5 miles from the Loop 1604 corridor, offers convenient travel times to both Alamo Ranch and The RIM at La Cantera, two of San Antonio’s most popular shopping and entertainment areas.

• The Westover Hills / Highway 151 / Loop 1604 corridor is one of San Antonio’s fastest growing areas, with city planners estimating there will be 11,000+ new homes by the year 2040

• The seller has advanced the site through a meaningful portion of the development approval process, including work done on civil and architectural sets, mechanical, plumbing, electrical etc. Geotech, Site Plans, and more in the deal room

• A buyer can move to construction significantly faster than if they were to buy raw or unentitled land elsewhere in San Antonio