Property: The Greyson
Developer: Carbon Cos.
Location: San Antonio
Property type: Mid-rise
Cost: $55 million
Construction is underway on The Greyson, a new, commuter-friendly mid-rise project in San Antonio developed by Dallas-based firm the Carbon Cos.
The Greyson is set to include 291 apartment units across three five-story buildings, ranging from one to three bedrooms. On-site amenities will include a fitness center, dog park, outdoor gathering areas, a pool and sauna and high-speed Wi-Fi throughout.
This project is not Carbon’s first foray into San Antonio, according to a press release provided to Multifamily Dive. The firm has developed over a dozen apartment communities in the area since the 1990s, including Vineyard Springs, built in 1999 and located across the Loop 1604 highway from The Greyson. Carbon has since sold the property, but still owns the Legacy at Cibolo Apartments in the San Antonio suburb of Boerne, Texas, built in 2020.
San Antonio is considered the fastest-growing city in the country, according to data from the U.S. Census Bureau. Almost 14,000 people moved to the city between 2020 and 2021.
“This North Central area of San Antonio continues to grow leaps and bounds,” said Ed Garahan, CEO of Carbon Cos, in the release. “We expect to see continued growth in retail, entertainment, and restaurant venues, as well as office space popping up all around in the next few years.”
The first units at The Greyson are expected to deliver in spring 2024. Carbon Cos. is handling the construction in-house and will self-manage the property.