Galo and Fulcrum Announce Joint Venture in San Antonio

Galo Properties and Fulcrum Development announce their first joint development venture.

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. October 14, 2008

JUNE 18, 2007. The companies have acquired the 98.7 acres located at the southeast corner of IH-10 West and Loop 1604 in San Antonio. The site is considered one of the premier undeveloped corners in the state. Plans for the property include 1 million square feet of office development, 1,500 multi-family units, two hotels and up to 300,000 square feet of retail space.

The project, which has not yet been named, will incorporate the latest master-planned design elements for large urban mixed-use developments.

'This is our first project together and it will build on our individual strengths and successes,' said Walt Busby, president of Galo Properties. 'It has the potential to be one of the most exciting new real estate projects in our area and we look forward to the challenge of creating a truly first-class mixed-use development.'

Busby said the pedestrian-friendly development will create a 'city' atmosphere incorporating engaging public spaces and world-class architecture, providing a sophisticated urban environment. With high and low density buildings and intimate residential corridors, the project will have the best to offer in city living: excitement, movement, spontaneity, refreshment and a sense of place.

Galo Properties is one of the largest single-family lot developers in South Central Texas. With offices in San Antonio and Austin, the company currently employs 30 people and had more than $200 million in total property sales in 2006. Single-family lots accounted for more than half of those sales.

Galo delivered thousands of lots in the past two years to national homebuilders and has developed large mixed-use properties such as Alamo Ranch at Loop 1604 and Culebra Road, totaling more than 3,000 acres of single-family, retail, multi-family and office sites.

The company also recently completed work on La Arcata, a 36-acre, 400,000 square-foot retail center on Loop 1604 West in San Antonio's Stone Oak area and recently announced its plans to develop Water Oak, a 1,900-acre mixed-use community in Georgetown that will be the first conservation subdivision in central Texas.

Fulcrum Development is an established high-end retail development company with prominent projects in many of the most affluent areas of San Antonio and its surrounding communities. Fulcrum is currently developing the Alon Town Center, a mixed-use urban life style center located on the former Voelcker Estate. Previous developments include The Strand at Huebner Oaks, Stone Oak Plaza, and Village On The Green.