- acquisition date May 9, 2017
- May 9, 2017
- address633 S. Saint Mary's Street, San Antonio, TX
- 633 S. Saint Mary's Street, San Antonio, TX
- number of units349
- square footage294,183
Agave is a 349-unit Class-A trophy asset located at the doorstep of San Antonio’s CBD. Newly constructed in 2016, this energy efficient building features best-in-class amenities and also boasts rare frontage on the famed San Antonio River Walk, a network of pedestrian walkways that weave into downtown San Antonio and past a myriad of of shops and restaurants.
Agave features thoughtful, detailed designs, providing a superior product standard. Renowned architecture firm Michael Hsu Office of Architecture designed the modern exterior facades and unique interior amenity spaces with 10 ft. ceiling heights, natural light, and views on three sides. Amenities include a clubhouse, fitness center, pool, sky lounge overlooking downtown, 8-story covered concrete garage, and shaded patio fronting the River Walk.
Agave is strategically positioned within Southtown, a rapidly gentrifying neighborhood defined by the Historic King William District, eclectic restaurants/bars, local coffee shops, and a vibrant art scene. Southtown is quickly becoming one of the most urban environments in San Antonio and a beacon for young professionals. The Historic King William District is a short walk to the south and San Antonio’s premiere arts and cultural district. This area claims the city’s first national historic designation, characterized by its Victorian-style homes and wide tree lined streets. Some of its homes, dating back as far as 1866, have even been converted to art galleries. A couple of blocks to the east, residents can enjoy the tranquility and culture of Hemisfair Park, a 100-acre “urban park” complete with plazas, courtyards, green space, art and cultural amenities, residences, and local businesses.
San Antonio enjoys exceptional economic and population growth thanks to a burgeoning healthcare presence, vibrant biomedical and biotechnology sector, military realignment, emerging energy sector and diversified manufacturing sector. San Antonio is now the 7th largest city in the U.S., and experienced the 4th highest population increase among all U.S. cities in 2015. The city has enjoyed 31% job growth since 2000, 3x that of cities such as San Francisco, and boasts an unemployment rate of just 3.4%. Rent growth is anticipated to average 3.1% annually through 2020 and despite a growing number of apartments coming online, the vacancy rate is expected to remain below 5% in the Central San Antonio submarket.