17-storey River Walk building with apartments, restaurant to be completed in 2023
A geometric 17-story building rising along the River Walk stands out from its neighbors for several reasons.
It will inject 63 luxury apartments aimed at people seeking an urban lifestyle in an area long dominated by hotels and office buildings.
It will also be modern, with asymmetrical floors positioned on three levels, minimalist unit designs and an automated parking system.
Named Floodgate after a nearby bridge and sluice, the building at 143 E. Commerce St. is expected to be completed in April 2023 for more than $43 million.
The Floodgate development in downtown San Antonio will feature high-end finishes and floor-to-ceiling windows.
Courtesy of Rhode PartnersDeveloper Keller Henderson expects the building to attract urban transplants from cities such as Los Angeles, New York and Chicago, as well as locals interested in walking to restaurants, bars and entertainment venues.
Floodgate sits between Hugman’s Oasis, Esquire Tavern, and the Canopy by Hilton San Antonio Riverwalk hotel, which includes a restaurant and bar. It is close to the Aztec, Charline McCombs Empire and Majestic theatres.
Other apartments built downtown, around the Pearl and in Southtown, “have had great success” and Floodgate’s size and location are unique, Henderson said.
“We felt like we had a winning combination,” he said.
Other residential developments are also underway nearby.
The Floodgate development in downtown San Antonio is expected to be completed in April 2023 for over $43 million.
Courtesy of Rhode PartnersWeston Urban is building a 32-story skyscraper with apartments and retail, and plans to rehabilitate the Continental Hotel and Arana buildings and construct an apartment building between them. Zachry Hospitality is spearheading a mixed-use development with housing, shops, restaurants and a hotel in Hemisfair.
Floodgate apartments will have high-end finishes and floor-to-ceiling windows, and they will range from around 850 square feet to around 2,300 square feet.
Most will be one bedroom units and some will have terraces. Henderson declined to specify rents, which he said will be “competitive with other luxury properties in the community.”
The approximately 100,000 square meter building will also include a two-level restaurant with al fresco dining on the River Walk. A tenant has not been determined.
Residents will have access to a billiard room, pet lawn, outdoor spa pool, barbecue grills, fitness center, yoga studio, and private dining room that can be booked for events.
Floodgate will use a PARKPLUS automated parking system that can accommodate 56 cars on two levels. Videos on the PARKPLUS website show a driver entering a stall, getting out of the car and entering information on a device. A robot then takes the car away and stores it until the driver wants to pick it up.
The Floodgate development in downtown San Antonio is being built on approximately 0.2 acres, making the logistics of the project difficult.
Courtesy of Rhode PartnersFloodgate has been in the works for years, with designs initially appearing publicly in 2016.
Henderson is a San Antonio native who moved to New York and later returned to his hometown, where he has an interior design business in Olmos Park.
He cited a corporate move and the renovation of several historic townhouses as design projects he worked on in New York, and he developed a boutique hotel in Costa Rica.
The block where Floodgate is built was previously occupied by several buildings that were either empty or housed a hot dog shop, payday lender, and convenience store.
Most were demolished and one was remodeled for Hugman’s Oasis.
Floodgate was a difficult project because of the size of the property — about 0.2 acres — and the logistics, like where to put materials and how to get trucks in and out, Henderson said.
The architecture of the building required the use of more reinforcing materials. Securing funding – which came from Laredo-based Falcon International Bank and equity partners – was also difficult.
“A lot of people looked at it and gave me my paper back,” Henderson said.
The Floodgate also received about $3.9 million in fee waivers, loans and a tax increase refund grant under the Downtown Housing Incentive Policy today. disappeared, which aimed to further stimulate the development of the city centre.
Henderson is working on another downtown project at 200 E. Main Plaza, where he is renovating a building for offices and restaurants. He says he is getting tax credits for the work and expects it to be finished in November.