Koontz Corporation’s New 300-Unit Multi-Family Apartment Community Brings Walkability to San Antonio’s Close-In Northwest Sector

SAN ANTONIO—November 16, 2022. San Antonio-based Koontz Corporation today announced construction is underway on The Savoy Apartments, a new 300-unit Class A multi-family apartment community at 12631 Vance Jackson Road on the site previously occupied by the Regal Fiesta movie theater. “We are excited to be breaking ground on this high-quality multi-family residential development,” said Koontz Corporation President and CEO Bart Koontz. “Due to The Savoy’s ideal location and ample nearby retail and restaurant choices, introducing this residential project essentially makes it the kind of mixed-use development that is in high demand and will have strong appeal for young professionals.”

Situated on 10.36 recently rezoned acres, the four-story Savoy Apartments community will offer 300 luxury one- and two-bedroom apartment residences with a myriad of on-site amenities including two swimming pools, two large courtyards, and a dog park. The development will encompass 267,000 square feet and have a 1.76 parking ratio.

The project site is at a high-traffic regional intersection near UTSA, Fiesta Texas, the South Texas Medical Center and the Fiesta Trails Shopping Center, which serves a flourishing population base and ranks as one of the area’s largest shopping destinations outside regional malls. Its national tenants include Sam’s Club, H-E-B, Walmart Supercenter, Home Depot, Marshalls, Bob Mills Furniture, La-Z-Boy and Petco. Residents will enjoy direct access to IH-10 through Fiesta Trails retail, as well as proximity to Loop 410 and Loop 1604.

Koontz Corporation, which will serve as developer and general contractor, is partnering with Garcia + Associates Architect and Pape-Dawson Engineers Inc. for the development, which is expected to be completed sometime in 2024, with the construction timeline slated for 24 months. The Savoy Apartments community will bring the total number of multi-family projects in Koontz’s portfolio to 22, for a total of 5,732 units comprising 6,005,684 square feet. In addition Koontz Corporation Announces Fiesta Trails, a New Class a Multi-Family Apartment Project in San Antonio Page 2 of 2 to multi-family, the scope of Koontz’s properties includes office, medical office, industrial/flex and retail.

“San Antonio is our home and one of the fastest-growing most exciting cities in the nation, with a flourishing, diverse economy and a rich cultural heritage,” said Koontz. “It is a wonderful place to live and work, and anytime we can enrich our city’s infrastructure by offering high-quality residential spaces, we are proud to do so.”
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About Koontz Corporation Headquartered in San Antonio, Koontz Corporation is an award-winning industry leader in the development of commercial and multi-family properties throughout the state of Texas. The company takes great pride in building projects of enduring quality and exceptional value for their clients, investors, buyers, and tenants.

San Antonio, TX (November 14, 2022) — Newmark announces the sale of Gardens at West, a 252-unit value-add multifamily property located in San Antonio, Texas, which will be rebranded as The Hayden on West Ave. Newmark Senior Managing Director Matt Michelson and Vice Chairman Patton Jones represented the seller, Regional Investment and Management (RIM), in the sale to the buyer, Embrey, marking their second acquisition in the greater San Antonio area. This is Newmark’s second time selling this asset.

“The Hayden on West Ave presented investors with an outstanding value-add opportunity in the highly desirable north central San Antonio submarket,” said Michelson. “Buyer interest was very strong as investors were drawn to the quality product as well as the high barriers to entry for new development.”

The property’s unit interiors offer gourmet kitchens, walk-in closets, outdoor storage, private patios/balconies and washer/dryer connections. Resort-class community amenities include a pool, two outdoor kitchens with grills, a state-of-the-art fitness center, a clubhouse, a dog park, controlled access gates, covered parking and nearby walking trails.

Located at 13515 West Avenue, The Hayden on West Ave is proximate to some of the city’s major employers, including Amazon, Sonterra Medical Center, Valero Energy, the South Texas Medical Center and USAA, among others. Adjacent to Highway 281 between Loop 410 and Loop 1604, the community provides residents with convenient access to downtown San Antonio.

According to Newmark Research, multifamily rents across the U.S. significantly exceeded pre-pandemic levels. In San Antonio, rents in the second quarter of 2022 were up 23 percent from the fourth quarter of 2019. Additionally, absorption outpaced new supply in many markets; the San Antonio multifamily market experienced nearly double the amount of demand (6.6 million square feet) than supply (3.5 million square feet).

About Newmark

Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark

Press Contact: Lizzy Mahan t 303-260-4437 lizzy.mahan@nmrk.com

generated revenues of approximately $3.1 billion for the twelve months ending September 30, 2022. Newmark’s company-owned offices, together with its business partners, operate from approximately 180 offices with nearly 6,700 professionals around the world. To learn more, visit nmrk.com or follow @newmark.