SAN ANTONIO — After almost five years of danger and delays, a $92.9 million public-private deal aiming to rejuvenate an important east-side corridor is moving forward.
Neighbors say they hope the Friedrich Lofts development on East Commerce Street will bring comfort to an area blighted by the ancient, abandoned manufacturing plant, which occupies about four acres of territory just east of downtown.
Project developers confirm demolition is now underway at the former factory buildings, with careful consideration to make the process as painless as possible for nearby neighbors.
The IDEA Carver school is just a few feet west of the property line, and the Dignowity Hill district lies to the north.
A neighborhood meeting there drew an animated crowd to the Ella Austin Community Center Monday night for a chance to question the project leadership team about their concerns.
Basil Koutsogeorgas, with Provident Realty Advisors, told the crowd safety and transparency will guide their actions during the extensive process of removing the old factory and building 358 new apartment units in its place.
“Not only are we redeveloping the area, but we're also going to be providing workforce housing and providing affordable units and multiple income ranges," Koutsogeorgas said.
The mixture of market rate and reserved units will be evenly split, he said. That means 179 residents will pay full-market rates while 24 will be reserved for those making only 60% of the region’s area median income (AMI). 155 units are designated for people making up to 80% of the AMI.
Koutsogeorgas said important partnerships have made the project possible.
“It's part of the mission of the Public Facilities Corporation (PFC) and the San Antonio Housing Trust and it would not have been possible without that type of partnership. This is exactly what a PFC was designed for and we are thrilled we are able to move forward,” Koutsogeorgas said.
Monica Savino said she will be able to watch the progress of the project from her kitchen window. She came to Monday's meeting with air quality and traffic management concerns.
Savino, who has been actively reading environmental studies about the parcel for years, called the presentation "a good first step and a good first meeting after many years of not hearing anything from anybody.”
Savino questioned the team about plans related to truck traffic in the short-term and overall transportation plans for the future. She told KENS 5 she came away cautiously optimistic.
“I look forward to an ongoing relationship with them because it will be several years," she said. "Two of my main concerns right now are whether they are talking with VIA and a comprehensive plan along East Commerce."
Longtime east-side entrepreneur Charles Williams Sr. said of the nearby Denver Heights area: "The Friedrich building I think would be the catalyst to push this development that has already started forward in a very positive way.”
“I think this is a great project," Williams added. "I've been watching this area for over 30 years now and I am one of the few minority developers who started working in the Denver Heights area to try to spark some economic development.”
Dignowity Hill Neighborhood President Eduardo Martinez is of two minds about the development, balancing excitement for the project with a desire for "caution and care for the immediate neighbors."
"Not only for Carver [School] but for the residents who live in the area as well," Martinez added.
Acknowledging the rental rates that will be out of reach to many locals despite them being labeled "affordable," Martinez added that “we’re really excited that we're going to get something that's going to benefit the neighborhood and the city with more affordable housing and we will continue to push for more affordable housing.”
Everyone on the team agreed this project won’t be completed in a blink. Team leaders predict demolition will probably take six months, then there will be more environmental testing and paperwork hurdles.
After that, they said, it will be 18 to 24 months before 358 new neighbors start moving in.
More information about the project can be found on the developer’s website here.
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