An apartment complex that has been in the works for nearly a decade is slated to rise one block west of Hemisfair, where San Antonio officials plan to build a sports and entertainment district anchored by a Spurs arena.
Durango Owner LLC wants to replace a parking lot at 427 S. Presa St. with a 17-story building with 95 dwelling units and commercial space, according to state and city filings. Construction on the $40 million project, which would also include a four-story parking garage, is expected to begin Jan. 1 and wrap up in late 2028.
The size of the planned complex, dubbed the Durango Apartments, has changed since 2017, when the company proposed an 11-story building with 70 apartments, two townhomes, three live-work spaces and retail. Durango Owner LLC is affiliated with developer Timothy Proctor of Wimberley, state corporate filings indicate, and a different company linked to Proctor bought the Presa property in 2018.
In a letter to city officials in 2017, Proctor said he is a Trinity University graduate who has worked on a variety of commercial developments primarily in the Northeast. Laney Development Group LLC, another Proctor company, was set to receive about $3 million worth of subsidies from the city for the project under a program aimed at increasing residential construction downtown. The status of those benefits wasn’t immediately clear Tuesday.
Proctor and an architect working on the project did not immediately respond to inquiries.
The Durango Apartments would be built in an area that’s expected to see a wave of investment.
The Spurs organization plans to partner with companies to build as much as $1.4 billion worth of restaurants, bars, shops, housing and a hotel around the arena. City officials’ proposed district, also known as Project Marvel, would include expanding the Convention Center, renovating the Alamodome and turning a former courthouse into an event venue.
The Monarch San Antonio, a luxury hotel with 200 rooms, opened at Hemisfair in March.
Oxbow Development Group, the firm behind Pearl, is building apartments, retail space and parking across East César E. Chávez Boulevard from Hemisfair.
The Durango Apartments would be adjacent to a pair of hotels: the Plaza San Antonio Hotel & Spa, a former Four Seasons that reopened in 2024 after renovations, and the Kimpton Santo San Antonio-Riverwalk, which also opened in 2024.