Merit Commercial Real Estate Breaks Ground on $500M Alsatian Oaks Master-Planned Community Near San Antonio
CASTROVILLE, TEXAS — Merit Commercial Real Estate has broken ground on Alsatian Oaks, a 435-acre, master-planned community in Castroville, a town adjacent to San Antonio. The project represents an investment of more than $500 million.
When complete, Alsatian Oaks will include 950 single-family homes, an amenity center, parks, bike trails and more than 400,000 square feet of restaurants, retail and medical office space. The first phase of development will consist of 233 homes as well as utility systems and a parkway connecting to Highway 90. A construction timeline was not provided.
Founded in 1844 by farmers from Alsace, a French region that borders Germany, Castroville maintains a uniquely European agricultural style. Merit brought in agricultural talent from across the state to ensure that the new development honored the city’s heritage and paid tribute to its unique architecture.
The population within a 10-mile radius of Castroville has increased 11.4 percent over the past five years, according to Merit. It is projected to increase another 18.2 percent over the next five years. Additionally, Castroville lies within the highest growth submarket for the San Antonio area, with more than 5,321 new home starts in the past year. There are multiple projects to increase capacity and accessibility to Highway 90, and several retailers such as Walmart have recently opened in the area.
Alsatian Oaks is a decade-long commitment for San Antonio-based Merit, which made its first investment in Castroville in 2019. Merit, a full-service commercial real estate firm, is the result of a recent merger between Terracor Real Estate and Freestone Commercial.
— Kristin Hiller