Plans for a new mixed-use project in downtown San Antonio move forward

Essex Modern City has received a $3.456 million loan that will allow it to move ahead with the construction of an 8-acre mixed-use development in downtown San Antonio.

It will partner with the city of San Antonio and the Union Pacific railroad in bringing 80,000 sq. ft. of retail, 80,000 sq. ft of office, and approximately 800 apartments to a site close to the Jose Lopez Freeway and I-37.

"San Antonio is one of the fastest-growing cities in the United States,” said Kevin Wolfer, CEO of Kennedy Funding, which provided the loan. “Real estate values in the metro area have appreciated 40% since 2015.”

Essex Modern City's website states the project will build both community and commerce in a developing section of the downtown in "a social experiment that believes that good design and technology can create a more enriching way to live.”

“All Essex Modern City needed was the funding – everything else was in place," Wolfer said.