Embrey Partners Secures Financing for 338-Unit Development Next to Historic Borden Creamery
RENDERING: Embrey Multifamily Community at Historic Borden Property.
SAN ANTONIO – Embrey Partners, a San Antonio-based multifamily developer, has secured financing to build 338 apartment units next to the redevelopment of the historic Borden Creamery property in San Antonio.
Wells Fargo is providing financing for the Embrey project, which will sit near U.S. Highway 281 and adjacent to the Pearl district.
The multifamily plan includes enhancements to the San Antonio Riverfront and aims to promote walkable neighborhoods. The project will feature improved sidewalks and an elevated pedestrian bridge connecting the Tobin Hill neighborhood to the river and the Brackenridge Park Trail.
“We have worked collaboratively with Bexar County and the City of San Antonio, the Tobin Hill Neighborhood Association and the San Antonio River Authority to ensure a careful design that thoughtfully integrates our apartment community into the context of the surrounding community,” said Jimmy McCloskey, Executive Vice President of Development for Embrey.
Construction of the multifamily community on the 5.1-acre site is scheduled to begin in July, with project completion targeted for July 2023.
The Art Deco Borden building will be preserved as a separate redevelopment led by AREA Real Estate and is planned to include about 60,000 square feet of office and retail space.
Founded in 1974, Embrey has developed more than 41,000 apartment units and over 6 million square feet of commercial property. The company currently has approximately 6,000 units either under construction or in active development.
