http://www.bizjournals.com/sanantonio/news/2017/01/11/san-antonio-developer-closes-on-11-acres.html
Local multifamily developer closes on 11 acres, across from future H-E-B
By Katie Burke
ReporterSan Antonio Business Journal
The construction pipeline in Northeast San Antonio is getting a new 330-unit multifamily development now that a local developer has snapped up portion of a 104-acre mixed-use development.
The NRP Group is adding another set of apartment plans on its plate after closing on 11.3 acres at Fulcrum Development's Bulverde Marketplace, a project at the Bulverde Road and Loop 1604 intersection. Fulcrum operated under the BMP 1604 Developers Ltd. name in the sale, the deed for which was filed at the end of last year.
San Antonio-based Fulcrum now adds NRP to a list of high-profile retailers it has brought to the bustling intersection, including H-E-B.
Fulcrum Development Associate Benjamin Dreszer said the grocer will anchor the mixed-use development, which will ultimately span more than 350,000 square feet of gross leasable area. NRP's plans to deliver 330 of what Dreszer called "urban-style apartment units" will be adjacent to a future group of retail buildings. Dreszer added that all of the buildings at Bulverde Marketplace will be pedestrian-linked to give apartment residents the chance to "shop and eat without having to use a car." He declined to comment on the grocer's plans to also develop its second San Antonio-area convenience store, which I reported on earlier this week.
H-E-B will break ground on the new $12.68 million location soon. Fulcrum is installing the utilities and infrastructure to serve the grocer and future retail development around the corridor, which has been serviced by the public-private partnership between the local developer and the city of San Antonio to build a major thoroughfare extension for Bulverde Road.
NRP did not immediately respond to requests for further details on the Bulverde complex, but an associate confirmed the developer's involvement in the mixed entertainment, grocery, restaurant and office project. The deal is another addition to NRP's projects around the city, which include plans at the Lone Star Brewery redevelopment, the downtown Hemisfair Park, a handful throughout South and East San Antonio, as well as one along Wurzbach Parkway.
The sale price of the deal between NRP and Fulcrum was not disclosed.
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