February 26, 2024
SAN ANTONIO – Placemakr, a Washington D.C.-based firm specializing in “flexible-stay” hospitality properties, is teaming up with local developer AREA Real Estate to turn the Maverick apartments into a flexible-use hospitality space offering short-, medium-, and long-term stay options.
The building at 606 N. Presa St. was built in 1922, purchased by AREA in 2014, and turned into 86 market-rate apartments.
The average length of stay in one of the company’s furnished properties is 12 months.
Any current residents wanting to stay in the complex will probably have to move into another unit that is fully furnished. After the remodel, all units will come fully furnished to achieve a cohesive design.
Current plans call for upgrades to common spaces and a new gym. The partners are also looking for more retailers to occupy space on the ground level.
Bookings will be available by the end of 2023, with new customers expected in early 2024.