The Preserve at Medina River is a master-planned community that was supposed to be part of a spark of commercial and residential development on San Antonio’s South Side in the mid-2000s, following the opening of Toyota Tundra plant. But like most other ambitious projects at the time, Preserve at Medina River was stalled due to the recession and housing crisis in the last decade. However, according to the San Antonio Express News, developers are revealing plans to revive the project, which will measure 532 acres with 1,200 new houses, and space for retail, all along part of the Medina River.
It’s backed by a mostly new group of developers including Fermin Rajunov, one of the original investors, PDC Preserve, a limited partnership that bought 434 acres in the project site. Marcus Moreno, a colleague of Rajunov’s and founder of Details Real Estate Services, a local firm that helps to develop single-family communities, is also said to be involved in the project. The new developers say it will take eight years to build out The Preserve at Medina River, at the corner of State Highway 16 and Watson Road, and south of Loop 410, just over a mile from the Toyota plant. If and when completed, it would be one of the South Side’s biggest master-planned developments. Real estate observers say the project would help to meet the high demand for new affordable housing, especially as urban sprawl heads west and south of San Antonio. The city expects to add 1 million people to its population over the next 25 years. Growth is occurring in existing area neighborhoods, especially those served by the Southwest Independent School District, which will open a new middle school later this year, and a new high school next year.
The initial plan for the Preserve at Medina River envisioned 1,560 single-family houses, apartments, a school and 65 acres for offices/retail/hotel space. Developers say the 65 acres for commercial space is likely to happen in the new/current plan. CST Brands is looking at breaking ground on site in July for a gas station, and a retail strip developer is in negotiations with the Preserve’s group. Original plans for The Preserve included about 130 acres to be open space for the community. Neither apartments nor a school site will be officially part of the new project. The developers say the new community will connect residents to the Medina River park and trail system and nearby recreational opportunities. Phased construction is slated to start early in 2017 and be done by the fall, the new developers have said, with sale prices of those homes ranging $160,000 to $190,000.
The Preserve at Medina River is poised to join other master-planned, large communities that are either in production or in the works for the South Side, such as Mission del Lago near Mitchell Lake, and Verano, close to Texas A&M University-San Antonio. For more information, visit http://preserveatmedinariver.com.