"Money, I'm Home"—billions develop Alamo City "Money, I'm Home"—billions develop Alamo City https://www.recenter.tamu.edu/news/newstalk-texas/?Item=174822017-09-12T05:00:00Z2017-09-12T21:40:00Z

​​​​​​​​Pictured is a rendering of the San Pedro Creek Rehabilitation. ​SAN ANTONIO – The recent boom of development has attracted more than $2.4 billion of investment downtown, according to a new report published by Centro San Antonio—a nonprofit that promotes downtown development.

Development includes:

  • more than $750 million of mixed-use projects;
  • more than $260 million in office development, including the $142 million Frost Tower; and, 
  • more than $915 million being invested in civic projects, including $450 million in the Alamo master plan and $175 million to rehabilitate San Pedro Creek.

Also, vacancy rates have plummeted downtown so far this decade, according to ​​​the report. 

The vacancy rate for commercial space dropped from 10.9 percent in 2010 to 4.6 percent last year, while residential vacancy rates dropped from 10.5 percent in 2010 to 5.9 percent in 2015.

(This story was released before Hurricane Harvey and Hurricane Irma.)

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