The Alamo City hasn’t experienced the significant headaches that Austin or Houston has seen in recent years. San Antonio saw a net growth of 24,000 people last year. Many of them are millennials hoping to escape higher costs of living or looking to start their next career in biomedical, tech, or military. Most cities experience a large influx in traffic during booming times; however, San Antonio hasn’t due to large investments in infrastructure. Recently, voters overwhelmingly approved a bond issue to put money into streets, sidewalks, drainage and flood control.
San Antonio’s downtown district continues to boom but that isn’t the only part of town that is seeing growth. Harris Bay Managing Partner Jake Harris is confident his company can create a real estate renaissance out of the project Essex Modern City. The project, located in the lesser populated East Side, will come with apartment complexes, parking garages, office space and much more.
“We’re getting close to having the site ready for development, late this year or early next year. There will be 250 multifamily units, parking, office, condos and row homes,” Harris said. “It will be a catalyst for the East Side. That’s becoming a new corridor that’s prime for redevelopment, since it is accessible to everything else in Downtown, to its urban renaissance”
The Alamo City can expect growth in the coming years without the aches and pains of a growing city such as the congestion seen in Houston or the high real estate prices seen in Austin. San Antonio’s first rate infrastructure and low cost of living are major contributing factors for those seeking financial freedom. The coming years not only look great for the city but for its people as well.