Developers are breaking ground on a new residential and business district down the street from University of Texas at San Antonio.
Schumacher Interests will break ground Wednesday morning on a 112-acre mixed-use district called The Merc near the corner of UTSA Boulevard and University Pass.
The district will include shopping and dining options in more than 200,000 square feet of retail space. There will be more than 1,600 apartments and the project will cost $350 million, according to a press release.
Developers expect the first businesses and apartments to begin opening in summer 2026.
“Anchored by outdoor amenities like golf, pickleball, an ice house and a trailhead connecting directly to the Leon Creek Greenway, the District is designed as a lifestyle-centered hub for commerce, culture, and connection,” a press release for the development said.
Through a limited partnership, Schumacher Interests already owns two apartment complexes at the site, Oxly and Lyric at the Merc. Those properties are worth $61 million and $45 million, respectively, according to the Bexar County Appraisal District.
The land owned by the partnership, UTSA BLVD IH 10 LP, included the Aloft Hotel, which was built on UTSA Boulevard.
City officials approved a $2.1 million agreement to build University Pass at the site in 2018.
Jasper Kenzo Sundeen covers business for the San Antonio Report. Previously, he covered local governments, labor and economics for the Yakima Herald-Republic in Central Washington. He was born and raised…
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