Development Plans Announced for La Cantera

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March 29, 2008

SAN ANTONIO, March 28 /PRNewswire/ — Officials from USAA Real Estate Company announced today plans to soon begin development of The Town Center at La Cantera, a mixed use development on approximately 178 acres bounded by The Shops at La Cantera, Interstate 10 and Loop 1604.
The Town Center at La Cantera will include approximately 1 million square feet of office, a high-end boutique hotel with spa, upscale retail, and approximately 500 residential units. “Our plans are to create a mixed-use development that matches the quality of The Shops at La Cantera and that preserves the natural hill country beauty of the site,” said T. Patrick Duncan, President and CEO of USAA Real Estate Company. “We have designed the Town Center as a 24 hour live/work/shop environment while preserving significant open spaces.”
The Town Center will extend eastward from the new Shops at La Cantera in a series of wide streetscapes featuring heavily landscaped boulevards, wide sidewalks and retail storefronts. Above the retail will be three and four story residences. Several mid-rise Class A office buildings are in the planning stages for the first section of the Town Center.
According to Duncan, “We are concentrating a large development volume in a relatively small area both to conserve open space and create a critical mass of employment, shopping and residential unlike anything existing outside the heart of downtown San Antonio.” A new boulevard linking the Shops at La Cantera to Interstate 10 will bridge a 25 acre central park and connect to future development on the balance of La Cantera.
USAA Real Estate Company has approximately $4 billion of assets under management and provides co-investment, acquisition, build-to-suit and development services for corporate and institutional investors. The USAA Real Estate Company portfolio consists of office, industrial, retail, multi-family and hotel properties as well as investments in real estate operating companies with an annual volume of transactions in excess of $1 billion. USAA Real Estate is a subsidiary of USAA, which has been serving military families since 1922 and has become one of America’s leading financial services companies. The association, well known for its exceptional service, offers its 6 million members a comprehensive range of insurance, banking and investment products and services designed to help them meet their financial needs. Headquartered in San Antonio, Texas, with offices throughout the United States and Europe, USAA owns or manages assets of more than $125 billion. For more information, please visit the website at .
USAA Real Estate Company

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