A city panel has given final approval for a new 32-story structure that will be built on a narrow acre of land in the heart of the central business district.
At 388 feet tall, the tower will be one of the tallest buildings on the San Antonio skyline.
The approval for a certificate of appropriateness from the Historic and Design Review Commission comes nearly a year to the day that commissioners granted conceptual approval for the proposed tower by developer Weston Urban.
The final step in approvals came Wednesday and passed on consent without discussion at the recommendation of city staff.
The residential tower will be located on property previously used as a parking lot at 305 Soledad St. The developer acquired the parcel of land situated roughly one block from the 24-story Frost Tower in 2019.
Weston Urban also owns the nearby Rand, Milam and Savoy office buildings, and the Weston Centre, which is downtown San Antonio’s tallest office building at 444 feet.
The new residential tower designed by the Austin-based architecture firm Page will feature 354 residential units, a 456-space garage and over 6,000 square feet of ground-floor retail space.
Construction is estimated at $107 million and was initially set to begin last summer with a completion date of 2024.
A representative of the developer did not return calls requesting more information about the timeline for the project.
The city granted Weston Urban more than $7.5 million in Center City Housing Incentive Policy incentives, which include a 15-year local tax rebate and program fee reimbursements.
The terms of the incentives agreement call for the developer to contribute almost $2.2 million to the Affordable Housing Fund.
In July, the HDRC gave Weston Urban conceptual approval to rehabilitate two historic buildings that will bookend a new apartment tower between West Commerce and Dolorosa streets in the Zona Cultural.