SAN ANTONIO – It took $32 million to build, $3.4 million in city incentives and $750,000 in public improvements; but now the Brackenridge at MidTown can boast luxury living at rental prices.
The Embrey Partners made the investment to build when the area was mostly known for its eyesores and crime.
Robert Hunt, Embrey's executive director for the development said, "They were focal points of crime and drug-related activities that SAPD (San Antonio Police Department) was constantly having to deal with over a course of time." That reputation has been shed now that leasing has begun on the 282-unit community, which mixes all the best elements of apartment living with what they call, luxury.
Those renting are willing to pay premium prices. Units range from a one bedroom, 594-square-foot unit, at $955 to a three-bedroom, 1,542-square-foot apartment, for $2,165. "Over 80 percent are coming from outside the central city and half of those are moving in from out of town," said Hunt.
Centro San Antonio defends the pricing, noting that millennials, young people and empty nesters seem to be drawn back to downtown living and that's good for the city as a whole.
Pat DiGiovanni, of Centro San Antonio says, "We need to bring the middle class back into the center city. It's really what's missing, it's lacking. "
211 units have been built so far. They feature stainless steel appliances, granite countertops, track lighting, designer cabinetry, as well as outdoor lounges, and indoor social lounges and a catering kitchen.