USAA Real Estate Co. and Cambridge Development Group Break Ground on The Residences at La Cantera
SAN ANTONIO, Aug. 13, 2012 /PRNewswire/ -- USAA Real Estate Co. is pleased to announce the groundbreaking of The Residences at La Cantera, a high-end, urban-style project featuring 323 units of Class A multi-family dwellings and 4,000 square feet of amenity retail space. Located at 6215 Via La Cantera, the project sits on five acres adjacent to the newest phase of The Shops of La Cantera in San Antonio, Texas. The property will be developed in partnership with Cambridge Development Group of Houston and will mark the third partnership with the developers following two highly successful projects.
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The Residences at La Cantera is the first phase of the multi-phase Town Center at La Cantera mixed use development, which will include future phases of hotel, office, amenity retail and additional multi-family. The first phase will include a 3-acre park that will serve as the public heart of the Town Center, featuring a vibrant urban plaza, great lawn, adventure playground, a lush wet pond and picnic areas shaded by preserved live oak trees. A cistern will be constructed adjacent to the wet pond to collect the condensate water from the buildings to responsibly and sustainably provide water for the pond and irrigate the park.
The Town Center at La Cantera will be intertwined with a network of San Antonio-area trails linking urban parks and preserved natural greenways and providing an inviting system that will connect to the City's planned Leon Creek Hike & Bike Trail.
The Residences at La Cantera will include 323 upscale apartment homes that capture natural design elements unique to San Antonio, set against a backdrop of stunning hill country views. The property will offer future residents studio to three-bedroom floor plans ranging from 553 to 1,785 square feet, with high-grade interior finishes such as hardwood flooring, stone countertops, technology niches and expansive baths. Residents also will share a spacious clubhouse with a cyber cafe that connects to a resort-style pool and Jacuzzi, fitness center with separate yoga classroom and a rooftop terrace, fire pit and full outdoor kitchen.
Other team members collaborating on The Residences at La Cantera project include general contractor CF Jordan Construction of Dallas, Pape-Dawson Engineers of San Antonio, Looney Ricks Kiss Architecture of Memphis and Austin-based J. Robert Anderson, landscape architect. Riverstone Residential Group of San Antonio will manage the property upon completion.
"We are pleased to partner with Cambridge in adding another component to the thriving La Cantera development," says USAA Real Estate Co. Chairman and CEO Pat Duncan. "The Residences' proximity to world class shopping and dining along with top attractions and some of San Antonio's major employers including USAA, Valero, The University of Texas at San Antonio and the South Texas Medical Center, makes it a premier location to live, work and play."
Integrating sustainability with refinement has been the hallmark of development at La Cantera for USAA Real Estate Co. The Residences at La Cantera will be built to meet Texas Green certification standards, incorporating the best amenities of apartment living in a serene and ecologically friendly environment.
"The Residences at La Cantera will be one of the most unique urban projects built in San Antonio and we are excited to be a part of this new phase of the Town Center," says Ron Lightfoot, president of Cambridge Development Group of Houston. "The property's location, adjacent to the Shops at La Cantera, will be ideal for tenants to enjoy the best retail establishments San Antonio has to offer."
The Residences is easily accessed via Interstate 10 and Loop 1604, and adjacent to The Shops at La Cantera, a Northwest San Antonio epicenter for shopping and dining. Additional nearby attractions include the Westin La Cantera Resort with its championship golf courses and picturesque hill country views, as well as Six Flags Fiesta Texas.
About Cambridge Development Group
Cambridge Development Group, based in Houston, is a diversified real estate company that has developed more than 7,500 apartments and more than five million square feet of office throughout Texas and Florida. Organized in 1976, its principals share a common belief that a thorough hands-on approach to every detail is vital in every development. For more information, visit www.cambridgehouston.com.
About USAA Real Estate Company
USAA Real Estate Company, with approximately $12 billion in assets under management, provides co-investment, acquisition, build-to-suit and development services for corporate and institutional investors. The USAA portfolio consists of office, industrial, retail and hotel properties as well as investments in real estate operating companies. USAA Real Estate Company is a subsidiary of USAA, a leading financial services company, serving military families since 1922. For more information, visit www.usrealco.com.
SOURCE USAA Real Estate Company
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