BOERNE—A Dallas-based limited partnership and a group of prominent local Boerne investors has acquired 26.58 acres of land located at the key intersection of Highway 46 and Herff Road from a local seller. The purchase price was not disclosed.
Charles Riddle with the San Antonio office of The Weitzman Group handled negotiations for the buyer.
The 26.6 acres, located in the heart of San Antonio-area City of Boerne, will be used for the development of approximately 250 luxury apartment units overlooking a creek that runs through the property, as well as street-level retail space with second-story lofts, which will have creek and downtown Boerne views. An existing, exquisite 6,000-square-foot rock home on the site will be turned into a higher-end restaurant and entertainment venue. Additionally, approximately eight acres with Herff Road frontage will be developed for pad sites for sale or lease. The group also has contracted for four acres on the other side of Herff Road and plans to include it for retail in the masterplan.
The project, unofficially called The Villages @ 17 Herff, based on the address, is a big win for the city and will be the first true luxury mixed-use development in Boerne, Riddle said.
The project is set to break ground in early to mid-2017. The developer is Dallas-based Carbon Thompson, and retail leasing will be handled by Riddle.