San Antonio-based multifamily and commercial developer Koontz Corp. has acquired a 9.66-acre site in Far North San Antonio on which it plans to build a 305-unit high-end luxury property, according to a news release shared with Multifamily Dive.
The developer purchased the site from Bethesda, Maryland-based developer The Concordia Group for an undisclosed amount.
The Elle is set to break ground in the third quarter of 2025, and is expected to be completed in June 2027. The property is situated near the Loop 1604 highway, as well as a number of retailers and Far North San Antonio’s high-end master-planned communities, according to the release.
“We are thrilled to have acquired this exceptional tract, which sits at the heart of one of San Antonio’s most desirable areas to live, work and play,” said Koontz Corp. President and CEO Bart C. Koontz in the release. “We stay closely attuned to market opportunities and are always poised to act quickly when an opportunity like this becomes available.”
The Elle will consist of four-story mid-rise buildings encompassing a total of 264,015 net rentable square feet. The apartments will range from one to two bedrooms in size, and feature wood plank and ceramic tile flooring, kitchen islands, stainless steel appliances, walk-in closets, full-size in-unit laundry and private patios.
The gated property’s amenities will include covered parking, an entertainment room, a fitness center, a shuffleboard court, an internet cafe and coffee bar, a business center and conference room, a swimming pool and sundeck, outdoor grilling areas and a dog park.
Koontz has developed more than 9 million square feet of commercial real estate, including over 6,000 multifamily units across 23 projects, according to the release. Its other multifamily developments in progress include The Moderno Apartments in New Braunfels, Texas, and The Savoy Apartment Homes in San Antonio.
