CONTACT: Stephanie Guerra, 210-207-7008
SAN ANTONIO (Nov. 7, 2019) – Today, after many years, the City of San Antonio City Council approved the assignment of the Development Agreement from Verano Land Group, LP to Southstar at Verano, LLC., located in Council Districts 3 & 4, and funded by the Verano Tax Increment Reinvestment Zone.
This new development will include new housing stock to the south western region of the city totaling 5,711 residential units: 2,500 multi-family units, 2,461 single-family homes, and 750 condos/townhomes, along with an office and retail space component to include 1,225,000 SF of industrial space, and 200,000 SF of institutional structures such as restaurants, a day care, assisted living centers, various sports facilities, trails, and parks as well as much needed capital improvements. Construction is scheduled to begin 2nd Quarter of 2020.“I am excited to move forward with authorizing the Development Agreement from Verano Land Group to Southstar at Verano. Southstar is the developer for Mission Del Lago and they are doing a great job over there. So finally, we have a developer in Southstar who is committed to developing the land surrounding the Texas A&M University – San Antonio Campus,” said Viagran.
“This has been a long time coming as it has been 12 years since these promises were initially made. We are now seeing things come to fruition with the reboot from Verano to Southstar to VIDA San Antonio and the synergy is here. We’ll see increased opportunities for neighbors to connect and for our Southside community to grow. I believe this development will be better than ever with more public participation and a clearer vision of where and how we are growing as a City.