Building big in downtown San Antonio has always been difficult, due to its small and irregular lots, strict historic preservation rules andof what lay underground after centuries of human habitation. Recently, rising interest rates and the economic disruption of the COVID pandemic have added to the challenge.
“San Antonio has struggled these last nine months, for certain, but the history of San Antonio over past decades has been strong,” he said in a phone interview. “I feel confident that the market can support some new supply.” He declined to comment further. His firm has helped tackle other major hotel projects downtown, including the construction of a Hampton Inn at theHe is partnering with Peachtree Group, an Atlanta hotel management firm that has invested in several San Antonio hotels, according to its website.
Yet the recent spate of new hotel projects shows that investors still have a lot of faith in the local industry, he said. He cited the redevelopment of Hemisfair and the growth of the broader region, including Austin, as likely fueling interest.