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eastsider

Park Centre Towers

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Park Centre Towers is a planned project on a 3.2 acre site in the near East Side of San Antonio located at Chestnut and Center streets, just north of the Alamodome. It would include two condo towers with 252 units and 60 three-story townhouses.

The developers of the Park Centre Towers are seeking financial assistance from the city for the project, which the city council will vote on today. The main part of the financial package includes a seven year $2.7 million grant, which in return the developers would award at least 31% of the construction contracts to woman and minority businesses.

The developers also are seeking a $300,000 loan from the city's Economic Development Incentive Fund to defray the cost of marketing the condos and townhouses to prospective buyers.

They're also looking to create a "quiet zone" to reduce the noise of passing trains along a two-mile stretch from Essex to the south to Sherman on the north.

The developers have said that this project will not happen without the financial incentives. If the city passes them, then construction will begin after 100 of the units are presold after the sales center opens in March. The condos will range in price from $213,000 to $412,000 and the townhomes from $320,000 to $480,000.

San Antonio Express-News: Luxury developers seek grant

I haven't heard about this project before today's article, does anyone have more info?

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