San Antonio's much-buzzed-about Pearl complex is getting ready to super-size itself, with development plans promising to double its current footprint by the end of 2026. The Oxbow Development Group, a subsidiary of the property's owner, Silver Ventures, has ambitious projects underway that include 682 new apartments, a 166-room hotel, additional parking garages, and roughly 70,000 square feet dedicated to expanding dining and office spaces. In a bid to enhance the community connection, Oxbow CEO Bill Shown revealed that more bridges across the River Walk and the closure of more streets to vehicles are part of the grand plan, according to Express News.
Amidst rising interest rates and increasing costs of construction materials, Oxbow Development Group has started hunting down private investors to fund a "whole bunch" for their expansion plan. Despite previous criticism, the company has not shied away from its plans to again approach government officials for further subsidies for the development's next phases, having already cashed in more than $49 million in property tax breaks and other financial incentives from the city of San Antonio and Bexar County, as Shown outlined in a statement obtained by FOX San Antonio.
Construction is currently underway at Cooper's Row, which will feature 263 living spaces and six live-work units at the bustling corner of Elmira and Schiller streets. Additionally, upcoming structures include an icehouse and a series of eateries across East Quincy Street, further complementing the area's vibrant cultural scene. Oxbow executives have gone public with their intention to seek tax breaks for these developments as well, aiming to cater to the demands of Pearl tenants and nearby residents longing for amenities like grocery stores, barber shops, and beauty salons as part of their urban experience.
While the allure of adding a big-name grocer to their portfolio is appealing, Shown conceded in an interview with Express News that logistical and financial constraints make such ventures challenging. They are, however, looking forward to the opening of the Pullman Market, which could potentially fulfill some community grocery needs when it opens in May. This market is set to host a quartet of restaurants, a dessert bar, and a specialty grocery outfitted with a butchery, a fishmonger, and a bakery.
As for the future, Oxbow's ambition doesn't wane at the current slated projects. The company continues to snatch up parcels of land with potential for development as opportunities arise. Despite market conditions making these deals increasingly more complicated, Shown and his team remain intent on transforming San Antonio's landscape into an even more vibrant and cohesive urban ecosystem for locals and visitors alike to revel in.
