DEAYALA PROPERTIES ACQUIRES PRIME ACREAGE
IN NORTHWEST SAN ANTONIO
Mixed Use Development Planned in Thriving Region
October 24, 2005 (Houston, Texas) – Houston-based DeAyala Properties today announced its acquisition of 80 prime acres in San Antonio, Texas with plans for a mixed-use office, hotel, and retail development. As principal of the Houston-based investor group, DeAyala Properties spearheaded the purchase of the land located on the Northwest corner of Military and Highway 151.
The site is located in the fast-growing Northwest area of San Antonio, known as Westover Hills. The property is surrounded by premier projects such as Sea World of Texas, Hyatt Hill Country Resort, and Northwest Vista College (9,500 student enrollment with faculty), as well as a large corporate base of employers such as World Savings, JP Morgan Chase, QVC Network and Takata. Westover Hills will also be the home for the recently-announced Methodist, Christus Santa Rosa and Baptist hospitals -- signaling the tremendous population growth in the area.
In addition to the 75,000 households within a 5 mile radius of the site, several major residential developments are under way with 66,000 new homes and 250,000 new residents projected within the next 15 years. Toyota has recently introduced a major assembly plant fewer than 20 miles away which brings an array of service suppliers. Financial giants Bank of America and Washington Mutual have both recently selected San Antonio for new operations facilities, adding to the rich employment landscape. Technology companies such as Maxim Integrated Products, Southwest Research Institute, Texas Research Park and the NSA agency have major operations in the surrounding area as well.
“The Westover Hills/Northwest Area of San Antonio is the fastest growing area of the City. Westover Hills has a large base of major employers and has attracted many national homebuilders to build quality housing close to the employment base. Significant retail, office and medical projects are planned for the area to service the needs of the existing community and much more is needed to keep pace with the population growth. San Antonio’s leadership has done a tremendous job of creating a climate for tourism, job creation, and a quality of life second to none,” said Julian “Kiki” DeAyala, president of DeAyala Properties.
“We see our project as a continuation of this growth and plan to build a high quality, mixed use development comprised of office, retail, restaurants and hospitality. Our business model brings unparalleled business rationale for both local entrepreneurs and national corporations alike,” he added.
DeAyala Properties has led the development of the new entertainment district in Laredo, Texas featuring the $40 million Laredo Entertainment Center (LEC) – a new 10,000 seat multipurpose arena – as its centerpiece. The LEC, along with new construction of Hal’s Landing, Hollywood Theaters, Powell Watson Toyota, Hawthorne Suites, The Laredo National Bank, Whataburger and numerous other restaurants and mixed-use retail establishments have solidified the Laredo development as the premier entertainment district in south Texas, with the potential to drive close to 2 million annual visitors to the area.
For sales or leasing information, please contact Thomas Tyng at Reata Real Estate at 210-841-3222 or via email is email@example.com.