CityVista will have 141 apartments that range in size from 656 square feet to 1,600 square feet. Rents for one-, two- and three-bedroom units will range from $1,240 to $3,000 per month.
The property at 647 E. Hildebrand Ave. sits atop a hill that will give residents unobstructed views of the downtown skyline. Bart Koontz, the real estate firm's president and CEO, called the location one of the last premier sites left in Bexar County.
“Downtown just opens up to you,” he said. “We're taking advantage of one of the last infill sites on one of the highest points in the city. We're doing it justice.”
Amenities will include an Internet cafe with coffee bar, swimming pool, fitness facility, rooftop pavilion and multiple courtyards. The units will have stainless-steel appliances, oversized walk-in closets, gourmet kitchens and granite countertops.
Construction will start next month and is expected to be complete in December 2014.
The five-story building will be built on a vacant 2.7-acre lot assessed at $3.1 million, according to the Bexar Appraisal District. Koontz wouldn't disclose the exact cost of the project, but building permits filed with the city list a declared valuation of more than $18 million.
In recent years, the city has dished out millions in grants and incentives to residential developments planned for the downtown area, working toward the goal of 7,500 new residential units in the core by 2020. Despite the project's proximity to downtown, Koontz said that they have not applied for any city or county incentives.
The upscale community will complement another luxury project the real estate firm developed in that area. In 2011, Koontz McCombs opened The Broadway, a 21-story condominium community near the University of the Incarnate Word.
Houston-based Wallace Garcia Wilson Architects designed the project. Other San Antonio developments the firm has designed include the Can Plant and Pearl Parkway South at the Pearl Brewery, according to the company's website.