San Antonio Multifamily Market Report

Downtown redevelopment carries meaningful potential. Project Marvel, if executed as proposed, could catalyze demand for apartments in Central San Antonio following a three-year stretch when local inventory grew by 14 percent. The plan calls for a new Spurs arena, a mixed-use residential and retail development, and improved walkability across roughly 50 acres near the Alamo District, which has historically drawn multifamily investor interest to surrounding neighborhoods. The project remains a plan in progress as of mid-2026, with key land acquisitions still pending and no formal development agreement yet executed.