Alteza Seeks to Sell 147 New Condos with Hotel Facilities

By Camelia Bulea, Associate Editor

The month of May saw the welcoming of the first resident into the finally finished Alteza condominiums. Since then, 20 others have followed, marking positive direction for a complex that was slated to open in 2008 and, stalled by the economy, lost 70 reservations.

That leaves 126 units still to be sold above the Grand Hyatt Hotel, one of the most controversial hotels in San Antonio. The units, occupying 10 floors above the 24-story hotel, have been completed but will be released in two phases, and the director of sales remains optimistic, noting in an interview for The San Antonio Express-News that the Alteza condos are unique in the city and not as affected as other condominium developments by the economic crisis.

The condos target people that are already established and looking for a second home, rather than young professionals. Prices start at $299,000 for a one bedroom and go as high as $2.5 million for a four-bedroom penthouse (there are six two-story penthouse suites available). The city’s condo market was never overbuilt, so there is demand for luxury spaces, especially since those who can afford to purchase such homes have been less affected by the economic downturn than the general population.

At present, the units selling best are the one bedrooms. Amenities include a rooftop pool and club roomon on the 32nd floor. The units have floor-to-ceiling windows, balconies, “smart home” technology and sub-zero appliances.