San Antonio Multifamily Market Report
Amazon and Navistar Foster Economic Growth; Constrained Development to Aid Occupancy
Major corporations bolstering stake in San Antonio. The state’s lenient business policies, strong in-migration and abundant workforce are leading to economic growth in the metro. Notable firms are relocating to San Antonio and expanding operations, helping expedite the recovery. Late last year Amazon announced plans for another metro fulfillment center to open in 2022, in conjunction with an even larger project that is set to finalize this year. In total, the two fulfillment centers will employ roughly 1,500 people. Navistar also fortified its commitment by acquiring additional properties near the manufacturing facility currently underway in South San Antonio. The truck producer will house 650 personnel across these facilities. Additionally, in early 2021, SeaWorld advertised plans to add 500 jobs, highlighting recovery momentum in the service sector.