McCombs River North Mixed-Use Plan Advances

22 January 2026

A mixed-use project near San Antonio’s River Walk, years in the planning process, is now moving forward.

McCombs Enterprises landed a favorable zoning change Tuesday for its 6-acre site at 326 West Jones Avenue and Camden Street, clearing another hurdle for a dense, multi-building development along the northern stretch of the San Antonio River. The San Antonio Business Journal reported that the city’s Zoning Commission unanimously approved an infill designation for the property, allowing multiple structures to rise on the site. The item moved through consent without opposition.

The San Antonio-based firm, founded by late billionaire Red McCombs, had previously said in 2023 that it was partnering with Denver-based developer Realberry — formerly known as McWhinney — on the project. A revised site plan filed with the city envisions eight buildings totaling more than 1 million square feet, marking a significant expansion from earlier concepts.

While individual building heights weren’t specified in the latest filing, the plan sets a maximum height of 15 stories. A December version showed a range of three to 17 stories. The project will have up to 390 apartments, roughly 265,500 square feet of office space, 57,400 square feet of food and beverage and about 58,600 square feet of retail.

Records released in 2023 showed an earlier plan called for 325 apartments and just 70,000 square feet of offices, with an estimated development cost of $295 million. The latest iteration points to a much larger project in the River North submarket, which has been steadily filling in with residential, cultural and office projects tied to the Museum Reach extension of the River Walk.

McCombs bought the property from CPS Energy in 2023 for $29.5 million. The site is expected to leverage a municipal management district created by the Texas Legislature that same year, giving the development the ability to levy property taxes and issue bonds to help fund infrastructure and other improvements.

The zoning change still needs final approval from the San Antonio City Council at a future meeting.

The project adds to a growing downtown San Antonio presence for the McCombs family. The firm is part of the team of developers transforming the 30-story, 240,000-square-foot Tower Life office tower into affordable apartments at 301 South Saint Mary’s Street.

In 2024, the family bought out the ground lease beneath the former Holiday Inn at 318 West Cesar Chavez Boulevard, gaining full control of the 4.5-acre property near Hemisfair. The late Red McCombs helped develop the hotel ahead of Hemisfair ’68.

— Eric Weilbacher