Embrey Partners Announces Finance Closing For Historic Borden Property Redevelopment

SAN ANTONIO, April 6, 2020 /PRNewswire/ -- Financing from Wells Fargo has been secured for the innovative revitalization and construction of a multifamily community at the historic Borden Creamery property that serves as a very visible welcome to San Antonio on US 281 adjacent to the Pearl district.

Plans include demolition of the current self-storage facility and construction of 338 premium multifamily units compatible with the art deco exterior of the Borden building, which will be preserved in a separate project by AREA Real Estate LLC to include 60,000 square feet of office and retail commercial space.

The multifamily property plan includes San Antonio River improvements and promotion of walkable neighborhoods with sidewalks and an elevated pedestrian bridge that connects the Tobin Hill community to the river and the Brackenridge Park Trail. 

"We have worked collaboratively with Bexar County and the City of San Antonio, the Tobin Hill Neighborhood Association and the San Antonio River Authority to ensure a careful design that thoughtfully integrates our apartment community into the context of the surrounding community," said Jimmy McCloskey, Executive Vice President of Development for Embrey.

Multifamily community construction on the 5.1-acre site is scheduled to begin in July. Project completion is scheduled for July 2023.

About Embrey Partners

San Antonio-based Embrey Partners, Ltd., is a diversified real estate investment company that owns, develops, builds and manages multifamily and commercial assets in targeted markets across the United States. Since 1974, Embrey has developed more than 41,000 apartments and over 6 million square feet of commercial property. Embrey is one of the leading developers in the multifamily sector, with approximately 6,000 units under construction or in development. www.embreydc.com

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SOURCE Embrey