Urban-style on the way to Harry Wurzbach

SAN ANTONIO – Local developer Phil Bakke is embarking on an estimated $15 million plan for a new Class A apartment community that will be known as Urban Crest. The community will span 185,000 sf over 5.6 acres at 3819 Harry Wurzbach on the city’s Northeast Side.

Plans call for 208 apartment units ranging in size from roughly 690 sf for an efficiency, up to three-bedroom units of about 1,300 sf. Rents at Urban Crest will range from $1,110 to almost $2,100 a month.

The units will be spread over two, four-story buildings. A courtyard will be situated between the two structures.

Urban Crest could play a vital role in larger plans to revitalize the major arteries into Fort Sam Houston. The Army post has been repositioned as a center of medical excellence.

According to fourth quarter analysis by Austin-based multifamily research firm Austin Investor Interests, asking rents for Class A properties in the Northeast submarket are averaging $1.61 per sf.

By that standard, rents at Urban Crest would range from $1,110 to almost $2,100 a month.