Proposed East Side Mixed Use Loan


A modern, art-oriented apartment complex designed for the East Side could return to the drawing board.

Five years ago, a developer from Sacramento Harris Bay announced plans to convert a former pallet factory in Denver Heights into a residential complex called Essex Modern City

At the time, at 51 Essex St. there are some signs of life. music and arts festival and inviting artists to create murals that cover many of the walls of old factories.

Although the apartments and commercial premises planned by the developers on the 8-acre site have never been realized, the project can now gradually move forward.

Lender from New Jersey, Kennedy Funding, recently announced that it has completed a $ 3.46 million land loan to support the construction of Essex Modern City, a proposed $ 150 million residential and mixed-use development near Alamodom.

“When it came to Essex Modern City, the timing for development in San Antonio couldn’t have been more ideal,” said Kevin Wolfer, CEO of Kennedy Funding, adding that the developers are working to finalize a map of the upcoming development. “All that was required for the modern city of Essex was funding – everything else was in place.”

Source link


Please enter your comment!
Please enter your name here