Multifamily real estate firm starts construction on 16.53 acres for build-to-rent (BTR) single-family rental community of 154 townhomes just minutes from San Antonio airport and downtown
SANTONIO (September 7, 2022) – RangeWater Real Estate breaks ground on 154-unit townhome project Caliza at the Loop, a Storia neighborhood positioned on 16.53-acres in San Antonio.
Caliza at the Loop is located on the Texas State Highway Loop 1604, an outer highway loop that encircles the growing Texas metropolis, just a 12-minute drive from the airport, 20 minutes from downtown and near major employers such as USAA, H-E-B, Wells Fargo, Harland Clarke, J.P. Morgan, Rackspace Technology, as well as three military bases.
This will be RangeWater’s second community in San Antonio, but first ground-up development. Both properties in San Antonio are part of RangeWater’s Storia division, a platform actively deploying capital across the Sunbelt to deliver build-to-rent single-family residential homes.
On San Antonio’s 1604 Loop, Caliza’s 154 townhomes will average 1,600 square feet with 3-bedroom, 2.5-bathroom floor plans. RangeWater anticipates first move-ins scheduled for May 2023.
“RangeWater is strategically growing across the Sunbelt to meet the high demand for housing,” said Steven Shores, Chairman and CEO of RangeWater. “San Antonio is one of Texas’ fastest-growing cities due to its attractive job market. We’re proud to break ground on our second investment in this submarket and look forward to delivering an exceptional neighborhood to our residents.”
Nick Wilhelmson, RangeWater’s Managing Director of the Southwest, added, “Caliza at the Loop is located near some of San Antonio’s best schools and recreation areas. Our community will boast an impressive amenity package, social programming and high-quality designer finishes under our build-to-rent Storia platform.”
The townhomes’ interiors will sport high-end finishes while the common areas will feature a clubhouse, fitness center, pool with a deck and covered grilling area, playground and a business center.
RangeWater’s first venture into San Antonio is a student housing conversion to build-to-rent single-family neighborhood called Cottages at Leon Creek. The rental homes have met with quick leasing success, Wilhelmson said.
Privately owned RangeWater was founded in 2006. The company acquires, develops, manages and invests in multifamily communities across the Southeastern and Southwestern United States, with a $6.3 billion portfolio.
RangeWater launched its first Storia properties in Georgia and has more in development across the country, from Atlanta to Boulder, Colorado.