JV buys six acres for East SA development

​​​​​​SAN ANTONIO – Locally based ​Varga Endeavors and Harris Bay have purchased almost six acres for an energy-efficient mixed-use project.

The project, called Essex Modern City, will be on 5.99 acres at the corner of Essex and South Cherry Streets. The project ​has the potential to include over one million sf of retail, office, multifamily, residential, and parking space.

The venture has raised n​early $6 million in its first round of financing. An option to buy an additional two acres is available. Varga Enterprises founder Efraim Varga says the partnership will likely do so before the end of the year.

Construction is slated to start in fourth quarter 2017.