Original Article: https://www.bizjournals.com/sanantonio/news/2020/06/26/long-time-developer-goes-solo-with-condo.html
By Mitchell Parton – Reporter, San Antonio Business Journal
A New Jersey developer with decades of experience in buying and selling San Antonio apartment and condo properties is busy on his latest project — a top-to-bottom renovation of a North Side community.
Stuart Falkin, who has invested in and managed properties in San Antonio and New Jersey since 1985, would typically do so with development partners. This time, however, he is taking on a property on his own that he bought last September. Previously called Calder’s Corner, Calder Park is a condominium community at 2718 Old Field Drive consisting of 40 units across 10 two-story buildings. The sale included 35 of the 40 units, which remain unsold.
Work is ongoing across the property, from exterior overhauls such as roofing and siding to heating and cooling replacements. Falkin said the improvements to the buildings are so extensive that it will resemble almost exactly what it would look like had he built them from the ground up.
“This to me is going to be a class A property, even though it was built in 1984,” Falkin said.
Falkin plans to complete exterior renovations by August. Eventually, he plans to sell the complex to a new owner.
B&A Architects and SPS Interior Designers created the new look of the condos. Homeowner Services Corp. will manage the condos, with Falkin’s own Falkin Realty handling leasing and sales.
Floor plans range from 1,133 to 1,327 square feet, priced from $169,900 to $234,900. Units will vary and are customizable in terms of finishes, while high-end units will include stainless steel appliances and granite or quartz countertops.
Overall property improvements will include new landscaping and gardening, granite walkways and refurbished driveways and parking lots.
Even after so many years in the market, Falkin plans to go beyond his typical work of refreshing existing properties. He said he is pursuing ground-up multifamily development opportunities on the south and west sides of the city.