Demand for housing spurs San Antonio apartment construction
January 28, 2014 by James
A number of developers and construction companies are breaking ground in San Antonio, where a demand for apartments is fueling a construction boom.
Among the companies involved is Turner Busby Development LLC, which is building a multifamily project comprising 378 units, due for completion in the spring of 2014. This is the first development for the company, which is new to San Antonio, and it will be located on the East Side at W.W. White Road and Loop 410.
Among the reasons for locating the complex at this site, according to Walt Busby and Tom O. Turner, who head the company bearing their names, is its proximity to Holt Cat. Starting business in 1933, Holt Cat services, rents and sells Cat (Caterpillar) generators, engines, and equipment for a number of different applications in agriculture, petroleum, mining, industry, and construction industries. It has dealerships in 118 Texas counties.
Added to the attractive location is the fact that the San Antonio apartment market has been on the upswing throughout 2013. According to an October 24, 2013 report, the nine months that ended September 30, 2013, saw nearly 4,200 new multifamily units built in San Antonio. In total, 61 properties were sold in that time, with more than one third of the transactions coming in the period July through September. In addition, 65 properties were for sale as of the third quarter of 2013, with contracts already drawn up on 10 of them.
Developers could work with brochure printers to devise mailers to contact renters, describing the new housing and inviting them to take a look.