McCombs Seeks Infrastructure Funding for $395M River North Development
The developer proposes using future taxes from its own property to help reimburse infrastructure costs at the Jones Avenue mixed-use project.
McCombs Enterprises is seeking a funding arrangement for its approximately $395 million River North development at Camden Street and West Jones Avenue. The proposal would create a subzone within San Antonio’s Midtown Tax Increment Reinvestment Zone.
Project at a Glance
- Developer:
- McCombs Enterprises
- Estimated development cost:
- Approximately $395 million
- Public infrastructure need:
- Approximately $43.6 million
- Stage:
- Funding proposal under city review
How the proposal would work
The developer proposes capturing tax growth generated by its own property, with no upfront city payment or share of sales-tax revenue. McCombs says it would absorb about half the public infrastructure cost.
Plans include retail and office space, public gathering areas, parks, structured parking and stronger links between Pearl, the San Antonio Museum of Art and the River Walk.
Approvals remain ahead
City staff are reviewing the proposal and expect to return to committee in October. An incentive package would require Midtown TIRZ board approval followed by City Council action. The funding proposal is not yet an approved construction incentive.