Firm planning to build across river from Pearl

An Austin firm wants to build a 10-story mixed-use development with 325 units across the San Antonio River from the Pearl.

Sabot Development is proposing putting the project on about 1.5 acres bounded by East Euclid, East Myrtle, East Elmira and East Locust streets. It would include 14,000 square feet of retail and about 400 parking spaces.

The development, expected to cost upward of $100 million, is the firm’s first in San Antonio.

Jim Young, a San Antonio native and president of Sabot, said he visited the Pearl complex several years ago and has been eyeing the area around it.

“We see multifamily as a future for a lot of people,” he said. “A lot of baby boomers and millennials alike, they want to enjoy the camaraderie of living with a diverse set of neighbors … and they seek to live in apartments because of the high level of experiences they get with their neighbors.”

The firm’s plans involve demolishing several buildings on the site, which currently is home to coworking business Cubes at the Quonset, a storage facility, a construction company, a real estate office and a food truck. The project excludes lots at East Myrtle and East Elmira.

Sabot is under contract to buy the land. The firm expects to close next year and start work in the second quarter of 2021, Young said. It currently is not seeking incentives for the project, he added.

The city’s Zoning Commission OK’d a request Tuesday to rezone the property to allow for the multifamily development with retail space. Last month, the city’s Historic and Design Review Commission gave its initial approval to the firm’s plans.

Several neighborhood residents and property owners spoke at the Zoning Commission meeting, with some voicing their support for the project and its design and others expressing concerns about how it would fit into the area and parking.

“The rezoning is quite inconsistent with our neighborhood in height and density,” said Scott O’Brien, who lives in the area and added he was worried about parking and privacy.

Richard Moore, president of the Tobin Hill Neighborhood Association, said Sabot representatives met with local residents and asked for input.