The people behind Silver Ventures and the Pearl plan to build more apartments and restaurants at the former brewery site along the San Antonio River.
Those plans were revealed at a recent meeting of the City’s Zoning Commission when Oxbow, the development arm of Silver Ventures, which is also the Pearl’s parent company, requested rezoning for three lots totaling 2 acres at 102 E. Josephine.
A vacant, two-story warehouse built in 1990 and a surface parking lot currently occupy the site just north of the main Pearl development. Acquired by a Pearl investor group in 2020, the property was most recently assessed at $7.1 million, according to tax records.
Oxbow plans to demolish the warehouse and build a nine-story “mostly residential” structure with 250-275 units that will be leased at market rates, said Omar Gonzalez, director of development at Oxbow.
The ground floor will feature retail and commercial space — stores and restaurants — and the building will also have up to 30,000 square feet of office space. A rooftop bar overlooking the river is being considered.
Public parking is also planned, delivering on a growing need for spaces in the pedestrian-friendly Pearl development.
The site is currently zoned for industrial use. On Nov. 15, zoning commissioners approved a change to mixed-use, high-intensity infill.
Gonzalez had previously envisioned the East Josephine site as a headquarters for a Fortune 500 company that would attract more workers to the area. The Pearl has some office space in the Full Goods Building and in the eight-story Oxbow tower at 1801 Broadway St.
As the project began to take shape, however, the developer saw a need to build more housing and retail, and “accommodate our desires to integrate better with the neighborhood.”
The development would add to the 2,000-plus apartment units already planned or in the works within the Pearl footprint and the Tobin Hill district.
Oxbow has begun work on a seven-story apartment building across the river from the Cellars, a luxury apartment building at the Pearl. When completed, the development will feature 256 units and 480 parking spaces.
Construction at the East Josephine site won’t start for another year, Gonzalez said, and will take until 2026 to complete.
He added that design plans will go before the City’s Historic and Design Review Commission in early 2023.
This story has been updated to correctly refer to Oxbow as the development arm of Silver Ventures, parent company of the Pearl.