MNO Partners to deliver 227 luxury apartments in New Braunfels
MNO Partners, a New Braunfels developer focusing on the San Antonio-Austin corridor, has confirmed that it has closed on land for a luxury 227-unit multifamily community. The development, which will be located 2445 E. Common St. in New Braunfels, is within a five-minute walking distance to the Gruene Hall music venue and dance hall.
When the Business Journal gave a first look at the proposed project, it reported that its price tag was around $32 million. However, the developer declined to confirm the project’s cost. Louisiana’s Origin Bank is providing the construction loan for the development.
Contractor Franklin Construction Ltd. is expected to break ground on the development in June.
“We feel great about this project because we worked in collaboration with our neighbors to make this something we could all be proud of,” said David Morin of MNO Partners. He added that MNO had sought the approval of the development’s neighbors before moving forward. MNO Partners had previously abandoned a project in San Antonio’s River Road Historic District after protest from neighbors.
Morin indicated, however, that if an area suited MNO’s strategy of building walkable developments connected to various services like restaurants and stores, it would entertain the idea of a building there, whether it was in a historic district or not.Read Publication