Woodbine Joins Texas Development Team to Manage Mixed-Use Pearl Parkway Project

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Rio Perla Properties, LP, an affiliate of San Antonio-based Silver Ventures, Inc., is pleased to announce that it has added Woodbine Development Corporation of Dallas to the development team at Pearl, the 22-acre mixed-use redevelopment of the former Pearl Brewery site on the River Walk in San Antonio.

Woodbine currently is managing the Pearl Parkway infrastructure and improvements project, including streets and utilities, as well as design and construction of three new buildings and adaptive reuse of an existing building. The Pearl Parkway project, which encompasses 157,000 square feet of leaseable area and will be used for a combination of multifamily residential, retail, restaurants and office space, is expected to be ready for occupancy in the fourth quarter of 2012.

"Woodbine has been consulting with us for several months on this project and brings a wealth of diverse real estate experience to our team, as well as significant San Antonio experience," said Bill Shown, Silver Ventures' managing director of real estate. "We chose to work with Woodbine because its team has a track record of success in developing master-planned communities, historic renovations and adaptive reuse projects, office buildings and hotels. We saw Woodbine's Kierland Commons as one of the most successful mixed-use projects in the country and wanted to bring that level of expertise to Pearl."

Kierland Commons is a 38-acre mixed-use community on Scottsdale Road on the border of Scottsdale and North Phoenix, Ariz.  When it opened with Phase I in 2000, the 700,000-square-foot project set the benchmark for live/work/play destinations nationally and received the 2009 Award of Excellence from the Urban Land Institute.

Lake-Flato is the design architect for the Pearl Parkway mixed-use buildings.   RVK Architects is the architect of record on the north component of the project, and WGW Architects is the architect of record on the south component.  The project is in the bid phase, and construction is scheduled to begin in a few weeks.

• Pearl Parkway North consists of approximately 58,000 square feet, with retailers and restaurants on the ground level  and office space on the second and third levels. San Antonio-based Joeris General Contractors has been selected as the contractor for this building and is already working on site infrastructure improvements.

• Pearl Parkway South includes the renovation and adaptive reuse of the existing 2,600-square-foot brewery Administration Building built in 1904, adjacent to two new mixed-use buildings containing 96,000 square feet. The "east building" is a five-level building with retailers  on the ground level and four levels (55 units) of multifamily residential above. The "west building" also includes retail space on the ground level and three levels (27 units) of multifamily residential above. Embrey Construction LLC is the general contractor for the two new buildings. Troy Jessee Construction LP is contractor for the renovation of the Administration Building.

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