McCombs Enterprises Proposed San Antonio River Project

The firm requested $22 million in infrastructure funding for a new development along the San Antonio River.

Updated on Sept. 23, 2026 in Utilities

Isometric editorial illustration showing a section of urban riverfront with concrete walls and scaffolding, representing a proposed development project. — McCombs Enterprises has proposed a large-scale development along the San Antonio River, seeking $22 million in city funding for infrastructure costs. AI Illustration. Upload story photo >

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McCombs Enterprises has proposed a large-scale development project along the San Antonio River, featuring retail, office, and restaurant space. The company is currently clearing the 5.9-acre site and seeking city approval for infrastructure financing.

Why it matters

The developer seeks $22 million in funding to offset infrastructure costs for the project, which is expected to exceed $300 million in total investment. The proposal aims to revitalize the area through a dedicated management district.

McCombs Enterprises is planning a development on a 5.9-acre plot purchased for $29.5 million. The project is expected to cost over $300 million and includes plans for 390 apartments.

The players

McCombs Enterprises

This is a private investment company based in San Antonio that oversees a diverse portfolio of real estate and business ventures.

CPS Energy

This is the city-owned utility provider for San Antonio and the surrounding areas.

San Antonio City Council

This is the municipal legislative body responsible for governing city policies and approving major development projects.

The details

The project includes plans for retail, office, and restaurant space situated near the San Antonio Museum of Art and the Pearl district. The company is currently demolishing existing empty buildings located at the intersection of Jones Avenue and Camden Street.

McCombs Enterprises purchased the site from CPS Energy in 2023.
City Council appointed five management district board members in August 2026.
The company presented project renderings to City Council in September 2026.
The first phase of the development could be leased by 2030.
The Midtown reinvestment zone is set to expire in 2060.

Market Landscape

The proposed development fits into the ongoing expansion of the Midtown Tax Increment Reinvestment Zone, which is projected to generate $500 million for area projects. This model positions the developer to leverage public financing to accelerate urban densification near existing landmarks.

Residents may see significant changes to the landscape near the San Antonio Museum of Art as demolition and construction proceed. The project is projected to generate $159.8 million in new sales tax revenue, which could influence future city budget allocations.

The takeaway

Large-scale urban redevelopment often relies on public-private partnerships to bridge the gap between initial investment and long-term economic growth. Investors and local stakeholders should monitor city council hearings for updates on infrastructure funding approvals.