CASTROVILLE, TEXAS – Merit Commercial Real Estate has paved the way for Alsatian Oaks, a 435-acre planned community in Castroville, a town adjacent to San Antonio. The project represents an investment of over $500 million.
When completed, Alsatian Oaks will include 950 single-family homes, an amenity center, parks, bike paths and more than 400,000 square feet of restaurants, retail and medical offices. The first phase of development will include 233 homes as well as utility systems and a parkway connecting to Highway 90. A construction schedule was not provided.
Founded in 1844 by farmers from Alsace, a French region bordering Germany, Castroville retains a unique European agricultural style. Merit enlisted agricultural talent from across the state to ensure the new development honors the city’s heritage and pays homage to its unique architecture.
The population within a 10-mile radius of Castroville has grown 11.4% over the past five years, according to Merit. It is expected to increase by a further 18.2% over the next five years. Additionally, Castroville is in the fastest growing submarket in the San Antonio area, with more than 5,321 new housing starts in the past year. There are several plans to increase capacity and accessibility to Highway 90, and several retailers such as Walmart have recently opened in the area.
Alsatian Oaks is a ten-year commitment for San Antonio-based Merit, which made its first investment in Castroville in 2019. Merit, a full-service commercial real estate company, is the result of a recent merger between Terracor Real Estate and Freestone Commercial. .