5890 Farm to Market 1516, Converse, TX 78109

324-UNIT MULTIFAMILY SITE, NORTHEAST SAN ANTONIO MSA

Istana at Randolph is a +/- 13 .41-acre Multifamily development site in the rapidly growing city of Converse, Texas on the northeast side of San Antonio. Conveniently located on FM 1516 the site boasts excellent visibility, and its proximity to major highways IH-10 and Loop 1604 provides easy access to the greater San Antonio MSA. FM 1516, a major roadway between IH-35 and IH-10, is currently undergoing a multi-lane expansion, and will connect directly to loop 1604 via the planned extension of Binze-Engleman, providing even greater accessibility to the site. The site also benefits from nearby major economic drivers including Randolph Airforce Base, a premiere Airforce training facility home to 14,000 military and civilian personnel.

ENTITLED AND DESIGNED, PLANS CONVEY WITH PROPERTY

The site was recently rezoned to R-3 Multi-family District with approved plat and SAWS utility service agreement in place. Current ownership has designed a three-story, 324-unit multifamily community with 4,000 SF clubhouse, swimming pool and other amenities. The property conveys with existing design and construction documents (90% set) . Alternative permitted uses include Multiple-Family Dwellings, Townhomes, Condos.

RAPID POPULATION GROWTH & STRONG DEMOGRAPHICS

Home to over 31,000 residents with an average household income of $91,000, Converse is one of the fastest-growing municipalities in Bexar County. Converse’s prime location, low property tax rates, strong infrastructure, and abundant amenities have led to an influx of new residents, businesses, and commercial development.